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Not recording the transaction completely in books of accounts is _______*1 pointPartial ommissionComplete OmmissionError of CommissionDuplication error

Question

Not recording the transaction completely in books of accounts is _______*1 pointPartial ommissionComplete OmmissionError of CommissionDuplication error

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Solution

The correct answer is "Complete Omission". This term refers to a situation where a transaction is not recorded at all in the books of accounts.

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The bookkeeper for Roger’s dance studio made the following errors in journalizing and posting.For each error, indicate whether the trial balance will balance; the amount of the difference if the trial balance will not balance; and the trial balance column that will have the larger total. Consider each error separately. Use the following form, in which error 1 is given as an example.ErrorIn BalanceDifferenceLarger Column1. A credit to Supplies of $600 was omitted.No $600Debit2. A debit posting of $300 to Accounts Payable was inadvertently debited to Accounts Receivable.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance3. A purchase of supplies on account of $450 was debited to Supplies for $540 and credited to Accounts Payable for $540.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance4. A credit posting of $680 to Interest Payable was posted twice.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance5. A debit posting to Income Taxes Payable for $250 and a credit posting to Cash for $250 were made twice.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance6. A debit posting for $1,200 of Dividends was inadvertently posted to Salaries and Wages Expense instead.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance7. A credit to Service Revenue for $450 was inadvertently posted as a debit to Service Revenue.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance8. A credit to Accounts Receivable of $250 was credited to Accounts Payable.select between yes or no

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