Question

Give an example of principal error

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Answer 1

Answer:

an example of principal error

Answer: When a purchase of furniture is debited to purchase account instead of a furniture account.

Answer 2

Answer:

An error of principle is a procedural error, meaning that the value recorded was the correct value but placed incorrectly. For example, a company may record personal expenses as business expenses. ... These errors are referred to as input errors. They're especially problematic in taxes..