Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

Which item is a principle error?

  • ANo record was made of inventory withdrawn by the owner for private use.
  • BSales returns were credited to the returns inwards account.
  • CThe amount shown on a purchases invoice for goods for resale was incorrectly recorded in the purchases journal.
  • DThe cost of machinery repairs was debited to the machinery at cost account.

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