Which of the following is true?

A. Error of casting affects personal accounts
B. Omission of a transaction from a subsidiary record affects only one account
C. Error of carry forward affects two accounts
D. Error of principle involves an incorrect allocation of expenditure or receipt between capital and revenue

Right Answer:  Error of principle involves an incorrect allocation of expenditure or receipt between capital and revenue

February 22, 2018   Asghar Khan    Accounting  
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