4.A credit sales of RM44 from Simon was entered in Simpson account, is the example of
5.Suspense account is _______________
6.Which of the following is correct for error of omission part of entry?
4) A. Error of commission :
This occurs when, for example, in the debtor's account an amount owed to M Woman is recorded as being owed to K Woman. The individual debtor accounts will be incorrect because one account will be overstated and the other will be understated
5)D.Suspense account ;- Account to be held until sufficient information is available for them to prepare and correct the accounts .
6)c. Is one type of error not affecting trial balance
Error of omission. This occurs when a transaction is completely omitted from the books of accounts. This error will not be detected by the trial balance because the trial balance does not know that the transaction exists as it is off the books.
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