If the amount is posted in the wrong account or i.t is written on the wrong side of the account, it is called error of principle. [May 2019, 2 Marks; June 2024, 2 Marks]
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Accounting ProcessQuestion 5022 of 84
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Detailed Solution & Explanation
False: Amount posted in the wrong account or on the wrong side of the account is an error
of commission.
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 SyllabusExam Strategy Tip
This topic carries 25-30% weightage. Focus on understanding core concepts rather than memorizing.
Key Concepts to Understand
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