Acc1 Errors

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  • Created by: Liv134
  • Created on: 22-03-16 14:13
Error of commission
Right type of account, wrong name
1 of 6
Reversal of entries
Debit entry was posted on credit, credit entry was posted on debit
2 of 6
Omission
When a transaction has been Completely missed out
3 of 6
Error of principle
Wrong type of account
4 of 6
Error of original entry
Wrong amount has been posted
5 of 6
Compensating error
Where the errors cancel each other out.
6 of 6

Other cards in this set

Card 2

Front

Debit entry was posted on credit, credit entry was posted on debit

Back

Reversal of entries

Card 3

Front

When a transaction has been Completely missed out

Back

Preview of the back of card 3

Card 4

Front

Wrong type of account

Back

Preview of the back of card 4

Card 5

Front

Wrong amount has been posted

Back

Preview of the back of card 5
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