Which of these errors affect only one account?
Correct answer: D. All the three
- A. Errors of casting
- B. Errors of carry forward
- C. Errors of posting
- D. All the three
Explanation
A casting error, carry-forward error or posting error is normally confined to one ledger total or account, although the related transaction may have another correctly recorded side. Therefore all three can affect only one account.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
Practise Accounting Principles
351 free Accounting Principles MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Accounting questions like this
Accounting is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Accounting Principles questions
Which of these errors affect two or more accounts
Which of the following error is an error of principle
Which of the following is an one sided error?
Which of the following items should not be capitalized relating to fixed assets?
Which one of the following should be considered a revenue expenditure?
Which of the following is an item of capital expenditure?