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Buildings account is debited with an amount towards repairs. This is an example of?
Accountingmedium
AError of commission
Buildings account debited with an amount towards repairs is an error of principle. Error of principle is a wrong classification of expenditure or receipt.
CError of omission
DCompensating error
Correct Answer: B. Buildings account debited with an amount towards repairs is an error of principle. Error of principle is a wrong classification of expenditure or receipt.
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