MP Board · Class 11 · Accountancy · Trial Balance and Rectification of ErrorsErrors of which one of the following types nullify the effect of each other?
Step-by-Step Solution
Compensating errors are those errors where the effect of one error is neutralized or compensated by the effect of another error or errors of equal magnitude.
Detailed Options Breakdown
Option : Compensating errors (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 1: Errors of omission
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Trial Balance and Rectification of Errors.
Option 2: Errors of principle
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Trial Balance and Rectification of Errors.
Option 3: Clerical errors
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Trial Balance and Rectification of Errors.
💡 Study Guide: This question tests core syllabus concepts from Trial Balance and Rectification of Errors. For formulas, key summaries, and mock exam reference guides, read the full Trial Balance and Rectification of Errors Revision Notes.