Buildings account is debited with an amount towards repairs. This is an example of?

Academy of PakistanTest & Learning

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Academy of PakistanTest & Learning

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72AccountingMedium

ACompensating error

BError of commission

CError of omission

DError of principle

Correct answer

D. Error of principle

Explanation

B. Buildings account debited with an amount towards repairs is an error of principle. Error of principle is a wrong classification of expenditure or receipt.

Buildings account is debited with an amount towards repairs. This is an example of? - Answer and Explanation | Academy of Pakistan