An error of principle is made if - WAEC Accounting 2014 Question
An error of principle is made, if
A
an entry has been made on the wrong class of account
B
a transaction has been completely omitted
C
an entry has been made on the wrong side of the two accounts corcened
D
a transaction is entered in both accounts for the wrong amount
correct option: a
An error of principle is an accounting mistake in which an entry is recorded in the incorrect account, violating the fundamental principles of accounting. An error of principle is a procedural error, meaning that the value recorded was the correct value but placed incorrectly.
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