Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 13 - No. 32)
What does the term 'error of omission' describe?
An error where a debit entry is entered as the credit side of an account.
A failure to record double entries for a transaction in the ledger accounts.
Incorrect use of a different account type.
A mistake where the figures are incorrectly inputted.
Explanation
An error of omission describes the failure to record both the debit and credit entries for a transaction.
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