Question

What are the various types of errors that are usually committed in the process of accounting? Explain with the help of examples

Answer 1

Answer:

hety mate ur ans is here

• error of commission - if wrong amount is entered in wrong account then it is called error of commission .
• error of principle - if expense of revenue and capital nature get mixed with each other
• compensated errors - if the effect of one error is cancelled by the effect of other