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Question
Answer in One Sentence:
What is meant by error of complete omission?
One Line Answer
Solution
When a transaction to be recorded in the books of accounts is completely omitted and due to which agreement of trial balance does not affect, it is known as error of complete omission.
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Types of Errors-Errors of Ommission
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Answer in One Sentence:
What is meant by error of partial omission?
Give one word/term or phrase for the following statement:
Error which arises when a transaction is partially or completely omitted to be recorded in the books of accounts.
Select the most appropriate alternative from those given below and rewrite the sentence:
If transaction is totally omitted from the Books, it is called ______
