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
Card 4
Front
Wrong Type of Account
(Purchases instead of Expenses)
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