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प्रश्न
Answer in One Sentence:
What are compensating errors?
एक पंक्ति में उत्तर
उत्तर
When two or more errors, identified from books of accounts are in such a way that the net effect of these errors, on the debit and on the credit sides of accounts is nil, such errors are known as compensating errors.
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Types of Errors-Compensating Errors
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संबंधित प्रश्न
Give one word/term or phrase for the following statement:
Error in which the effect of one mistake is nullified by another mistake.
Do you agree or disagree with the following statement:
When one or more debit errors happen to equal one or more credit errors it is said to be a Compensating error.
Do you agree or disagree with the following statement:
When a transaction is not recorded according to the principles of accounting it is known as Compensating errors.
