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Homework answers / question archive / Purchase of goods $1,182 has been entered in error in the Furnishings account is an ed out of a question Error of Omission Error of Principle Compensating Error Error of Commission

Purchase of goods $1,182 has been entered in error in the Furnishings account is an ed out of a question Error of Omission Error of Principle Compensating Error Error of Commission

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Purchase of goods $1,182 has been entered in error in the Furnishings account is an ed out of a question Error of Omission Error of Principle Compensating Error Error of Commission

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Answer-:

An error of principle is when entries are made into the wrong type of account.

In the given question, purchase of goods has been entered wrongly in furnishings account.

So, it is an example of Error of Principle.

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