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WAEC Financial Accounting 2010 Question 11

Question 11

Correction of Errors and Suspense Account

Where a wrong figure occurs in only one account with the second figure correctly stated, this is an error of

  1. A.transposition
  2. B.compensation
  3. C.omission
  4. D.commission
Show the answer and explanation

Answer: A (transposition)

Explanation

Reversing digits (e.g. 54 written as 45) in one account while the other entry is right is a transposition error; it makes the trial balance disagree.