Types of Errors that are not shown by a trial balance

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  • Created by: thee26
  • Created on: 08-03-21 18:23
Error of Omission
The transaction hasn't been recorded at all. No DR entries and no CR entries mean the trial balance won't show an error
1 of 6
Reversal of Entries
When the debit entry is entered as the credit entry and vice versa. Despite this error, the debit figure and credit figure will still be the same so the trial balance won't show this error
2 of 6
Error of Commission
Wrong account but right type of account (either wrong customer's account or wrong Purchases/Expenses/Assets/Revenue/Liability/ Sales account)
3 of 6
Error of Principle
Wrong Type of Account
(Purchases instead of Expenses)
4 of 6
Transposition Error / Error of original entry
Wrong figures yet the DR still equals CR
5 of 6
Compensating Error
2 or more errors cancel each other out, making the DRs = CRs, making the errors unrecognisable on a trial balance
6 of 6

Other cards in this set

Card 2

Front

When the debit entry is entered as the credit entry and vice versa. Despite this error, the debit figure and credit figure will still be the same so the trial balance won't show this error

Back

Reversal of Entries

Card 3

Front

Wrong account but right type of account (either wrong customer's account or wrong Purchases/Expenses/Assets/Revenue/Liability/ Sales account)

Back

Preview of the back of card 3

Card 4

Front

Wrong Type of Account
(Purchases instead of Expenses)

Back

Preview of the back of card 4

Card 5

Front

Wrong figures yet the DR still equals CR

Back

Preview of the back of card 5
View more cards

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