Accounting ProcessQuestion 4687 of 84

Under or over-casting of a subsidiary book is an example of error of commission. [June 2023, 2 Marks]

For any discrepancies in this question, email contact@cadada.in

Detailed Solution & Explanation

True: Error of commission is an error on account of wrong posting, wrong balancing, wrong carry forward, wrong totaling etc.

About This Chapter: Accounting Process

Paper

Paper 1: Accounting

Weightage

25-30%

Key Topics

Journal, Ledger, Trial Balance, Cash Book, Rectification

This chapter covers Journal, Ledger, Trial Balance, Cash Book, Rectification and is part of Paper 1: Accounting in the CA Foundation exam.

View Official ICAI Syllabus

Exam Strategy Tip

This topic carries 25-30% weightage. Focus on understanding core concepts rather than memorizing.

Key Concepts to Understand

Trial Balance

A statement listing all ledger account balances at a specific date to verify the arithmetic accuracy of the double-entry bookkeeping system. It serves as the first step in preparing final accounts.

Related Comparison Tables

GDP vs GNP: National Income Accounting for CA Foundation

Ready to Master Accounting Process?

Practice all 84 questions with instant feedback, earn XP, track your streaks, and ace your CA Foundation exam.

Start Practicing — It's Free