UI Post-UTME Financial Accounting 2025 (Model questions) Question 17

The following errors were found after preparing the trial balance:
I. Rent paid ₦15,000 was posted to the rates account
II. Machinery purchased for ₦80,000 was debited to the repairs account
III. A sale of ₦12,000 was entered on both sides as ₦21,000
IV. The discount received of ₦3,000 was completely omitted
Which errors are errors of principle?

1. A.I and III only
2. B.II only
3. C.I and II only
4. D.III and IV only