MCQ on errors

1. When a transaction is completely omitted to be recorded it is called:

A. Error of commission
B. Error of omission
C. Error of principle
D. Error of posting

2. Goods purchased from John for $2,000, no entry made in purchases book is an example of:

A. Error of posting
B. Error of omission
C. Error of principle
D. Compensating error

3. Salaries $5,100 wrongly posted to salaries account as $1,500 is an example of:

A. Error of principle
B. Error of posting
C. Error of commission
D. Compensating error

4. When a transaction is recorded without due regard of fundamental principles of accounting

it is an example of:

A. Error of omission
B. Error of posting
C. Error of casting
D. Error of principle

5. If no distinction between capital and revenue expenditures in made while recording

transaction, it is:

A. Compensating error
B. Error of principle
C. Error of omission
D. Error of posting