AQA Accounting questions & answers.
Comission ANS - Correct amount has been entered but in the wrong persons account.
e.g. if 2 customers have similar names
Omission ANS - Where the transactions has been completely omitted from the books
e.g. if goods were bought by a customer but transaction wasn't added in both sales and customers own
ledger. Trial balance would still agree
Principle ANS - When the item has been entered in the wrong class of account
e.g. the purchase of a fixed asset has been entered in the purchases account
Complete reversal of entries ANS - Where the correct amounts are used but each item is used on the
wrong side
e.g. if we paid a supplier but entered debit bank and credit supplier
Original Entry ANS - Where the original entry figure is incorrect yet double entry is still observed using
this incorrect figure.
e.g. where there was an error in addition on the sales invoice but the same total was posted to the sales
and personal account. Trial balance would agree but sales and debtor amounts would be incorrect.
Compensating ANS - Where errors cancel each other out
e.g. error in addition resulting in £10 too much in sales and another error in addition resulting in £10 too
much in purchases would then cancel each other out. Trial Balance would agree but individual accounts
would not.
Addition ANS - Error in addition in either the trial balance, ledger accounts or books of prime entry
Partial Omission ANS - Recording the credit entry but not the debit entry and vice versa
Comission ANS - Correct amount has been entered but in the wrong persons account.
e.g. if 2 customers have similar names
Omission ANS - Where the transactions has been completely omitted from the books
e.g. if goods were bought by a customer but transaction wasn't added in both sales and customers own
ledger. Trial balance would still agree
Principle ANS - When the item has been entered in the wrong class of account
e.g. the purchase of a fixed asset has been entered in the purchases account
Complete reversal of entries ANS - Where the correct amounts are used but each item is used on the
wrong side
e.g. if we paid a supplier but entered debit bank and credit supplier
Original Entry ANS - Where the original entry figure is incorrect yet double entry is still observed using
this incorrect figure.
e.g. where there was an error in addition on the sales invoice but the same total was posted to the sales
and personal account. Trial balance would agree but sales and debtor amounts would be incorrect.
Compensating ANS - Where errors cancel each other out
e.g. error in addition resulting in £10 too much in sales and another error in addition resulting in £10 too
much in purchases would then cancel each other out. Trial Balance would agree but individual accounts
would not.
Addition ANS - Error in addition in either the trial balance, ledger accounts or books of prime entry
Partial Omission ANS - Recording the credit entry but not the debit entry and vice versa
