16. Correction of errors
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Chapter Overview ü Correction of error
苏彤要努力Types of error
属鼠是什么命
用的确造句小白兔的资料üThe trial balance will not balance if total debits do not equal total credits.
l Errors of transposition ——two digits in a figure are accidentally recorded the wrong way round. （648记成684）
l Errors of omission ——An error of omission means failing to record a transaction at all, or making a debit or credit entry, but not the corresponding double entry.
Types of error
üErrors of principle —— involves making a double entry in the belief that the transaction is being entered in the correct accounts, but subquently finding out that the accounting entry breaks the ‘rules’ of an accounting principle or concept.
英文情话短句→ For example, repairs to a machine costing $150 should be treated as revenue expenditure, and debited to a repairs account. If,
instead, the repair costs are added to the cost of the non-current ast (capital expenditure) an error of principle would have
occurred. As a result, although total debits still equal total credits, the repairs account is $150 less than it should be and the cost of the non-current ast is $150 greater than it should be.
护士的英语怎么说Types of error
l Errors of commission —— the bookkeeper makes a mistake in carrying out their task of recording transactions in the accounts.
（老会计记错账户或者加总出错）
l Compensating errors —— errors which are, coincidentally, equal and opposite to one another （两笔Entry都做错了，但是错的金额正好一样，导致TB看上去还是平的）
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