JAMB Accounting 2022 Objective — Question 8

Question 8 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2022 Objective paper, with the correct answer and a full explanation.

8. When an amount for asset purchase is entered in business expenses account, the error committed is

A. (A) Error of commission
B. (B) Error of reversal of entries
C. (C) Error of principleCorrect
D. (D) Compensation error

Explanation

An error of principle occurs when a transaction is recorded in the wrong class of account — here, an asset (a real account) is wrongly recorded as an expense.

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