FOA Errors

There are errors that do not affect the trial balance and errors that do affect the trial balance.

• True

• False

All of the following are errors that do not affect the trial balance except:

• Omission

• Commission

• Reversal of entries

• Incorrect additions

All of the following are errors which affect the trial balance except:

• Incorrect additions

• Reversal of entries

• Incomplete postings

• Incorrect transfers

This error involves the posting of a transaction to a wrong class of accounts. Eg. payment for motor repairs (expense) recorded in the motor vehicle account (asset)

• Omission

• Commission

• Principle

• Original Entry

This error involves a transaction which may have been recorded in the wrong account in a particular class. Eg. payment form D. Stephens may have been posted to D. Stephenson

• Omission

• Commission

• Principle

• Reversal of Entries

Identify the error from this scenario. Scenario: Cheque  for   $2000 received  from M. Waugh   was  credited  to  S. Waugh

• Omission

• Commission

• Principle

• Original Entry

Identify the error from this scenario. Scenario: . Lodgment  of  $10,000  cash to  the  bank  was  posted  as  Dr  in cash  and  Cr in Bank

• Reversal of Entry

• Principle

• Commission

• Omission