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WAEC Financial Accounting 1994 Question 40

Question 40

Correction of Errors and Suspense Account

Sale of goods for ₦500 to Eddy was not posted. This is an error of

  1. A.omission
  2. B.compensation
  3. C.commission
  4. D.principle
  5. E.original entry.
Show the answer and explanation

Answer: A (omission)

Explanation

Nothing was recorded at all: an error of omission.