Cash paid to jake, N2,500 was entered on the credit side of his account and debited to cash account. This is an error of

  • A Principle
  • B Commision
  • C Complete reversal of entries
  • D Original entry
waec 2016accounting

The correct answer is C. Complete reversal of entries

Error of Complete Reversal Entry â€“ As the name implies, this means that the debit and credit entry recorded for a particular transaction are reversed. The transactions are incorrect but because the amount is the same or equal at both sides, the trial balance still balanced.

Previous question Next question