MGT101 Financial Accounting GDB Deadline 1 July 2010

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Consider the following transactions and JUST indicate which type of error is there in these transaction:

1) Good sold to Mr. Saad have been forgotten to record in the Sales Journal
2) Sale goods to Ali is wrongly debited to Uzair Account instead of Ali account.
3) Repair of any fixed asset has been wrongly debited to Fixed asset account.
4) Purchase of goods from Mr. Rizwan is wrongly credited to Mr. Farhan account.



Required:


You are just required to name the type of error in each transaction. No explanation is required from you. And also no entry is required. Just indicate the name of type of error.



Your answer should be like this

1. Error of ____
2. Error of ____
3. Error of ___
4. Error of ____



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Be specific and to the point. Only provide one line answer as given above.

[shahzeb]

1. Error of omission
2. Error of commission
3. Error of principal
4. Error of commission

[Guru]

thanks shahzeb.. Keep on helping...:P

[Taim]

yup its right.. thanks

[sanam]

u phir kia howa itna right right kar rahay han.

[Taim]

Kia??samaj nai ai app ki

u phir kia howa itna right right kar rahay han.

[sanam]

log pata nahen kia samajtay ha napnay app ko

[Taim]

log pata nahen kia samajtay ha napnay app ko

Ehmm ehmm...!! koi ghalti ho gai mujh se..??