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Which of the following is not correct about Errors?
Accountingmedium
AErrors which affect one account can be errors of posting
BErrors of omission arise when any transaction is left to be recorded
CErrors of carry forward from one year to another year affect both Personal and Real A/c
Errors of commission arise when any transaction is recorded in a fundamentally incorrect manner Error of Commission arises because of wrong recording, wrong casting, wrong carry forward, wrong posting, wrong balancing etc.
Correct Answer: D. Errors of commission arise when any transaction is recorded in a fundamentally incorrect manner Error of Commission arises because of wrong recording, wrong casting, wrong carry forward, wrong posting, wrong balancing etc.
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