Practice - Errors of Commission
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Practice Questions
Test your understanding with targeted questions
What is an error of commission?
💡 Hint: Think about the kinds of mistakes that can occur when recording entries.
Give an example of an error of commission.
💡 Hint: Consider common accounting categories.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is an error of commission?
💡 Hint: Think about how entries can still be logged incorrectly.
True or False: Errors of commission do not need to be rectified.
💡 Hint: Consider the implications of leaving errors uncorrected.
1 more question available
Challenge Problems
Push your limits with advanced challenges
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.
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.
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