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WAEC Financial Accounting 2011 Question 10

Question 10

Correction of Errors and Suspense Account

When a transaction is completely left out from the books, it is an error of

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

Answer: B (omission)

Explanation

A transaction not recorded at all is an error of omission.