MGT101 GDB Solution

Consider the following transactions and JUST indicate which type of error is there in these transaction:

1) Good sold to Mr. Saad have been forgotten to record in the Sales Journal

2) Sale goods to Ali is wrongly debited to Uzair Account instead of Ali account.

3) Repair of any fixed asset has been wrongly debited to Fixed asset account.

4) Purchase of goods from Mr. Rizwan is wrongly credited to Mr. Farhan account.



Required:

You are just required to name the type of error in each transaction. No explanation is required from you. And also no entry is required. Just indicate the name of type of
error.

Your answer should be like this



1. Error of ____

2. Error of ____

3. Error of ____

4. Error of ____


Be specific and to the point. Only provide one line answer as given above.

Solution:-

1. Error of Omission

2. Error of Commission

3. Error of Principle

4. Error of Commission

Please do make changes in these assignment otherwise every one who copy this assignment as it is will awarded zero marks