myclass24your class. your pace.

AccountancyCLASS 11CBSE

answered 23 Jun 2026

What is the Classification of Errors?

A.VERIFIED ANSWERfact-checked by tutors

All the errors can be classified into the following four categories

Error of commission
Errors of Omission
Errors of Principle
Compensating Errors

Suggested Q&A

ACCOUNTANCY · CLASS 11

AccountancyCLASS 11
What is meant by Assets? Also explain its types.
AccountancyCLASS 11
Explain the following terms of Accounting: (a) Sales (b) Revenues (c) Profit (d) Gain (e) Loss (f) Discount (g) Drawings.
AccountancyCLASS 11
Describe the informational needs of external users.
AccountancyCLASS 11
Explain any five advantages of Accounting.
AccountancyCLASS 11
Explain any five limitations of Accounting.
AccountancyCLASS 11
Explain the following terms of Accounting: (a) Expenses (b) Expenditure (c) Debtors (d) Creditors (e) Voucher.