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6. An invoice amounting to K5,000 was completely omitted from the records. This error is known as A. Complete reversal of entry B. Errors of
6. An invoice amounting to K5,000 was completely omitted from the records. This error is known as A. Complete reversal of entry B. Errors of principle C. Error of commission D. Error of omission 7. Salaries paid by cheque amounting to K700 by paid was debited to the bank account and credited to the salaries account. This is an error of.... A. Complete Reversal of transaction B. Error of principle C. Error of commission D. Compensating error 8. Which of the following is an internal stakeholder to the financial statements? A. Customer B. Supplier C. Management D. Government 9. Transactions for small items such as purchase of stationery like pens and pencils are best recorded in: A. Bank account B. Cash Account C. Journal D. Petty cash 10........is an example of external stakeholder to the financial statements A. Customer B. Management C. Employees such as directors D. Employees such as internal auditors
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