what are 4 types of errors in error of rectification ?
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Accounting errors are classified in to four types on the basis of nature of Errors. They are (1) Errors of Omission, (2) Errors of Commission, (3) Errors of Principles and (4) Compensating Errors. The Errors of Omission will occur when a transaction is not recorded in the books of accounts or omitted by mistake.
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Such errors include errors on account of wrong balancing of an account, wrong posting, wrong carry forwards, wrong totalling, etc❤️
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