WAEC Financial Accounting 2016 Question 6

Question 6

Correction of Errors and Suspense Account

Which of the following errors are errors of commission? I. A cheque paid to Adom debited to Adam's account II. Credit sales to Eva credited to sales account but debited to Eve's account III. Furniture repairs debited to furniture account IV Credit purchases from Manu credited to Manu's account

  1. A.I and II.
  2. B.I and IV
  3. C.II and IV
  4. D.III and IV
Show the answer and explanation

Answer: A (I and II.)

Explanation

An error of commission posts the right amount to the wrong personal account of the same class, as in I and II; III is an error of principle.