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WAEC Financial Accounting 2018 Question 13

Question 13

Correction of Errors and Suspense Account

An amount of Le 2000 received from a customer, Kofi has been credited to another customer, Kofigo's account. This is an error of

  1. A.principle.
  2. B.commission.
  3. C.original entry.
  4. D.complete reversal.
Show the answer and explanation

Answer: B (commission.)

Explanation

Posting to the wrong account of the same class (another customer) is an error of commission.