PRC-1 · Chapter 8 · Question 3 of 100
An error where correct amount is recorded in correct accounts but on wrong sides of both accounts is called:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Complete reversal of entries
Explanation
When the correct accounts and amounts are used, but the debits and credits are swapped, it is classified as a complete reversal of entries.
More Correction of Errors MCQs
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