A transaction entered on the wrong side of the correct account is known as: A) Error of omissionB) Error of principleC) Error of commissionD) Error of posting
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A transaction entered on the wrong side of the correct account is known as:
A) Error of omission
B) Error of principle
C) Error of commission
D) Error of posting
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- A transaction entered on the wrong side of the correct account is known as: A) Error of omissionB) Error of principleC) Error of commissionD) Error of postingNeed help!!!when the wrong amount is posted to the correct account? A) Error of omissionB) Error of commissionC) Error of principleD) Compensating errorhelpwhen the wrong amount is posted to the correct account? A) Error of omissionB) Error of commissionC) Error of principleD) Compensating errorcorrect
- when the wrong amount is posted to the correct account? A) Error of omissionB) Error of commissionC) Error of principleD) Compensating errorno ai3. Which type of error occurs when the correct amount is posted to the wrong account? A) Error of OmissionB) Error of PrincipleC) Error of CommissionD) Compensating Error No ai useA trial balance will not detect which of the following errors?A. OmissionB. Double entryC. TranspositionD. Posting to wrong account of same typehelp
- A trial balance will not detect which of the following errors?A. OmissionB. Double entryC. TranspositionD. Posting to wrong account of same typeneed help !A trial balance will not detect which of the following errors? A) Posting to the wrong sideB) Compensating errorC) Omission of an entryD) All of the abovedo not use aiWhich of the following types of errors is disclosed by a trial balance? A) Compensating errorB) Principle errorC) Error of complete omissionD) Error of posting to the wrong side no ai use
- A correcting entry is not required if a. a transaction has been journalized using the wrong amounts and posted. b. a transaction has been journalized to the wrong accounts and posted. c. a transaction has been journalized using the wrong accounts and amounts, then posted. d. a transaction has been correctly journalized but posted incorrectly.The ruling method can be used if an error is discovered before or after an entry was posted. A line is drawn through the incorrect account title or amount and the correct account title or amount written immediately above. The person making the correction also includes his or her initials with the correction. The correcting entry method is used if an error is discovered after an incorrectly journalized entry was posted. If the error consists of the wrong account(s), an entry is made to cancel out or reverse the incorrect account(s) and insert the correct account(s). The correcting entry must include an explanation. On May 10, a $170 payment for Advertising Expense was incorrectly journalized and posted as a debit to Travel Expense for $170 and a credit to cash for $170. Provide the correcting entry following the one-step method.Which transaction should not be recorded using the Expense or Check onscreen form?
