What type of accounting error has occurred when an amount received from Guy Smith is posted to

Question:

What type of accounting error has occurred when an amount received from Guy Smith is posted to George Smith?
(a) Error of duplication
(b) Double-entry error
(c) Error of principle
(d) Error of commission

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

See More Books

Question Posted: Aug 26, 2023 07:34 AM

See More Questions

What type of accounting error has occurred when the cost of redecorating office premises is posted to the Land and buildings account? (a) Entry error (b) Error of duplication (c) Error of principle...
What type of accounting error has occurred when payment for office stationery is posted to the Purchases account? (a) Error of duplication (b) Double-entry error (c) Entry of principle (d) Error of...
What type of accounting error has occurred when the same payment of 32 for office cleaning is recorded twice in the Cash account? (a) Error of principle (b) Entry error (c) Entry of principle (d)...
What are the key issues associated with managing an international assignment?
An escalator is needed to carry 75 passengers per minute a vertical distance of 8.0 m. Assume that the mass of each passenger is 70 kg. (a) What is the power (in kW) of the motor needed? (b) Express...
Review the meaning of the terms and concepts listed above in Key Terms and Concepts.
To be able to explain the basics of networking and related technical jargon. LO.1
On September 11, 2012, Home Store sells a mower for $500 with a one- year warranty that covers parts. Warranty expense is estimated at 8% of sales. On July 24, 2013, the mower is brought in for...
Waterway Financial Services has its headquarters in Nanaimo, British Columbia. The City of Nanaimo assesses property taxes on June 30 annually and notifies property owners electronically. Property...
What type of accounting error has occurred when a sale entered in the Sales Day Book has not been posted? (a) Entry error (b) Error of duplication (c) Error of principle (d) Double-entry error
Which of the following would be an error of principle? (a) Credit purchase of furniture for office use is entered in the Purchases Day Book (b) A sale of 21,400 has been entered in the Sales Day Book...
Using the Job Characteristics model as a framework may identify changes that need to be made which will make the jobs in hospitality and food retail more attractive. How might this be problematic for...
In an air-pollution study performed at an experiment station, the following amount of suspended benzenesoluble organic matter (in micrograms per cubic meter) was obtained for eight different samples...
The figure shows a sketch of the curve with equation y = f(x). The curve passes through the points (0, 3) and (4, 0) and touches the x-axis at the point (1, 0). On separate diagrams, sketch the...
An object is placed $200 \mathrm{~mm}$ from a diverging thin lens that has a focal length of $-500 \mathrm{~mm}$. What are (a) the image distance and $(b)$ the magnification? (c) Draw a...
In a study of warp breakage during the weaving of fabric (Technometrics [1982]: 63), 100 pieces of yarn were tested. The number of cycles of strain to breakage was recorded for each yarn sample. The...
Many consider family-owned businesses the backbone of American business. Mei Mei translates from Chinese to little sister in English, and its name aptly represents a family business of three...
Engine 1 produces twice the power of engine 2. Is it correct to conclude that engine 1 does twice as much work as engine 2? Explain.
United Business Forms capital structure is as follows: Debt ............................................ 35% Preferred stock ........................... 15 Common equity .......................... 50...
Amortization schedule for bands. On January 1 of the current year, Womack Company issues 10% semiannual coupon bonds maturing five years from the date of issue. The firm issues the bonds to yield 8%...
Amortization schedule for bonds. On January 1, 2008, Seward Corporation issues $100,000 face value, 8% semiannual coupon bonds maturing three years from the date of issue. The coupons, dated for June...
Accounting for bonds using amortized cost measurement based on the historical market interest rate. OBrien Corporation issues $8,000,000 face value, 8% semiannual coupon bonds maturing in 20 years....
Break-Even Sales and Sales to Realize Income from Operations For the current year ending October 31, Yentling Company expects fixed costs of $537,600, a unit variable cost of $50, and a unit selling...
You buy a stock for $35 per share. One year later you receive a dividend of $3.50 per share and sell the stock for $30 per share. What is your total rate of return on this investment? What is your...
Filippucci Company used a budgeted indirect-cost rate for its manufacturing operations, the amount allocated ($200,000) is different from the actual amount incurred ($225,000). Ending balances in the...

What type of accounting error has occurred when an amount received from Guy Smith is posted to

Question:

Step by Step Answer:

d Er...View the full answer

Financial Accounting An Introduction

Students also viewed these Business questions