Errors

Question 1

Error of commission

Answer 1

Posting to wrong account

Question 2

Error of omission

Answer 2

Balance being left out of the ledgers

Question 3

Error of principle

Answer 3

Error where wrong account is credited/debited

Question 4

Corresponding error

Answer 4

When an error affecting one side of the ledger also effects the other side, an opposite error is made on both sides