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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is an error of commission?
💡 Hint: Think about the kinds of mistakes that can occur when recording entries.
Question 2
Easy
Give an example of an error of commission.
💡 Hint: Consider common accounting categories.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is an error of commission?
- A mistake not recorded
- A recording mistake
- A correctly recorded transaction
💡 Hint: Think about how entries can still be logged incorrectly.
Question 2
True or False: Errors of commission do not need to be rectified.
- True
- False
💡 Hint: Consider the implications of leaving errors uncorrected.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A retail store mistakenly records a sale for ₹15,000 instead of ₹12,000. Describe the impact on financial statements and detail the rectification process.
💡 Hint: Think about what the financial report would show if the mistake is not corrected.
Question 2
If an accountant finds an error of commission after the accounting period has closed, how should they proceed? Provide a detailed solution.
💡 Hint: Consider the timing of financial reporting and how adjustments reflect on subsequent periods.
Challenge and get performance evaluation