Error of principle arises when ________.
A. There is complete omission of a transaction
B. There is partial omission of a transaction
C. Distinction is not made between capital and revenue items
D. There are wrong postings and wrong castings
Answer:C
Error of principle arises when ________.
A. There is complete omission of a transaction B. There is partial omission of a transaction C. Distinction is not made between capital and revenue items D. There are wrong postings and wrong castings