Principle – NBC Institute

FA – May 2012 – L1 – SA – Q14 – Correction of Errors

Identifying the type of error when maintenance cost is debited to the wrong account.

Question

The amount of N500,000 for the maintenance of the factory machine was debited to the Plant and Machinery account after crediting the bank account with the same amount. Which error has been committed?

A. Complete reversal of entries
B. Error of commission
C. Error of original entry
D. Error of omission
E. Error of principle

Answer

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Tags: Error Correction, Maintenance Cost, Principle
Level: Level 1

Topic: Correction of errors
Series: MAY 2012

FA – May 2016 – L1 – SB – Q1b – Trial Balance: Usefulness and Limitations

Listing four errors that the trial balance does not reveal.

Question

Mention FOUR errors that the trial balance will not reveal.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Commission, Errors, Omission, Principle, Trial Balance
Level: Level 1

Topic: Trial Balance: Usefulness and Limitations
Series: MAY 2016

FA – Mar/July 2020 – L1 – SA – Q6 – Trial Balance: Usefulness and Limitations

Identifying errors that cause trial balance discrepancies

Question

Which of the following errors will cause the trial balance totals to be unequal?
A. Errors of transposition
B. Errors of omission
C. Errors of principle
D. Compensating error
E. Error of commission

Answer

Find Related Questions by Tags, levels, etc.

Tags: Errors, Principle, Transposition, Trial Balance
Level: Level 1

Topic: Trial Balance: Usefulness and Limitations
Series: MAR/JULY 2020

FA – May 2012 – L1 – SA – Q14 – Correction of Errors

Identifying the type of error when maintenance cost is debited to the wrong account.

Question

The amount of N500,000 for the maintenance of the factory machine was debited to the Plant and Machinery account after crediting the bank account with the same amount. Which error has been committed?

A. Complete reversal of entries
B. Error of commission
C. Error of original entry
D. Error of omission
E. Error of principle

Answer

Find Related Questions by Tags, levels, etc.

Tags: Error Correction, Maintenance Cost, Principle
Level: Level 1

Topic: Correction of errors
Series: MAY 2012

FA – May 2016 – L1 – SB – Q1b – Trial Balance: Usefulness and Limitations

Listing four errors that the trial balance does not reveal.

Question

Mention FOUR errors that the trial balance will not reveal.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Commission, Errors, Omission, Principle, Trial Balance
Level: Level 1

Topic: Trial Balance: Usefulness and Limitations
Series: MAY 2016

FA – Mar/July 2020 – L1 – SA – Q6 – Trial Balance: Usefulness and Limitations

Identifying errors that cause trial balance discrepancies

Question

Which of the following errors will cause the trial balance totals to be unequal?
A. Errors of transposition
B. Errors of omission
C. Errors of principle
D. Compensating error
E. Error of commission

Answer

Find Related Questions by Tags, levels, etc.

Tags: Errors, Principle, Transposition, Trial Balance
Level: Level 1

Topic: Trial Balance: Usefulness and Limitations
Series: MAR/JULY 2020

Question Tag: Principle

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FA – May 2012 – L1 – SA – Q14 – Correction of Errors

Identifying the type of error when maintenance cost is debited to the wrong account.

FA – May 2016 – L1 – SB – Q1b – Trial Balance: Usefulness and Limitations

Listing four errors that the trial balance does not reveal.

FA – Mar/July 2020 – L1 – SA – Q6 – Trial Balance: Usefulness and Limitations

Identifying errors that cause trial balance discrepancies

FA – May 2012 – L1 – SA – Q14 – Correction of Errors

Identifying the type of error when maintenance cost is debited to the wrong account.

FA – May 2016 – L1 – SB – Q1b – Trial Balance: Usefulness and Limitations

Listing four errors that the trial balance does not reveal.

FA – Mar/July 2020 – L1 – SA – Q6 – Trial Balance: Usefulness and Limitations

Identifying errors that cause trial balance discrepancies

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FA – May 2012 – L1 – SA – Q14 – Correction of Errors

Identifying the type of error when maintenance cost is debited to the wrong account.

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FA – May 2016 – L1 – SB – Q1b – Trial Balance: Usefulness and Limitations

Listing four errors that the trial balance does not reveal.

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FA – Mar/July 2020 – L1 – SA – Q6 – Trial Balance: Usefulness and Limitations

Identifying errors that cause trial balance discrepancies

You're reporting an error for "FA – Mar/July 2020 – L1 – SA – Q6 – Trial Balance: Usefulness and Limitations"

FA – May 2012 – L1 – SA – Q14 – Correction of Errors

Identifying the type of error when maintenance cost is debited to the wrong account.

You're reporting an error for "FA – May 2012 – L1 – SA – Q14 – Correction of Errors"

FA – May 2016 – L1 – SB – Q1b – Trial Balance: Usefulness and Limitations

Listing four errors that the trial balance does not reveal.

You're reporting an error for "FA – May 2016 – L1 – SB – Q1b – Trial Balance: Usefulness and Limitations"

FA – Mar/July 2020 – L1 – SA – Q6 – Trial Balance: Usefulness and Limitations

Identifying errors that cause trial balance discrepancies

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