CIMA BA3 · Chapter 7 · Question 2 of 10
A payment received from customer P. Jones was credited to the account of customer P. James in the receivables ledger. What type of error is this?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Error of commission
Explanation
An error of commission posts an amount to the wrong account of the correct type; both are receivable accounts. It does not affect the trial balance or the receivables control account total.
More Errors, the trial balance and suspense accounts MCQs
- Q4A trial balance has debit totals of $214,300 and credit totals of $216,110. A suspense account is opened to make it balance. What is the…
- Q5A suspense account was opened when a trial balance did not agree. The following errors were then found, and these explain the whole…
- Q6A machine costing $12,000 was debited to the repairs account. Which journal entry corrects the error?
- Q7A company's draft profit for the year is $45,600. It is then found that closing inventory was understated by $3,000 and an accrual for…
- Q8A purchase invoice for $3,980 was recorded in the purchase day book as $3,890 and then posted from there to the ledger. What type of error…