Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 4 - No. 42)
What is an error of principle?
Incorrectly adding the numbers.
Posting an amount on the wrong side of the ledger.
Recording a transaction using an incorrect accounting concept.
Omitting a transaction from the accounting records.
Explanation
Errors of principle involve the misapplication of accounting principles.
Comments (0)
