Accounting for IGCSE & O level - Accounting Procedures (Section 17 - No. 8)
If a business recorded a $1000 payment for rent as a debit to the utilities expense account, this is an example of:
An error of omission
An error of commission
An error of principle
A compensating error
Explanation
An error of commission is when the correct amount is debited, but to the wrong account.
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