Question

Which of the following errors is an error of principle?

Select one:

a. 1,000 received from Mr. X was posted to the credit of Mr. M

b. A discount of ` 30 allowed to Mr. A was not recorded in the discount allowed account

c. Legal charges for acquisition of building for ` 500 was entered in the Legal Expenses Account

d. Total sales figure was taken as ` 19,373 instead of ` 1

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Answer 1

total sales figure was taken as 19,373 instead of '1