Control for debtors and creditors - Likely errors | en - 262 - 25102
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Likely errors

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    Tashika B.
    US
    Tashika B.

    What are the most likely errors to happen within an organization?

    BabaJide Martins F.
    TR
    BabaJide Martins F.

    Understood.

    Alice B.
    GQ
    Alice B.

    Who is in charge in creating accounts for debtors and or creditors?

    Hermina S.
    LC
    Hermina S.

    understood

    Morne V.
    ZA
    Morne V.

    Questions often concern the posting of data from journals to the general and subsidiary ledger.

    Morne V.
    ZA
    Morne V.

    Questions often concern the posting of data from journals to the general and subsidiary ledger.

    Sunday O.
    NG
    Sunday O.

    Likely errors that occur in account

    Odongo M.
    UG
    Odongo M.

    Accounting -> Likely errors Likely errors Questions often concern the posting of data from journals to the general and subsidiary ledger. The task may be focused on the debtors control account and debtors subsidiary ledger. Some errors that students make when completing this task include the following. Likely errors will include: entries recorded on the wrong side of the ledger inability to treat contra entries and bills receivable/payable failure to include opening balances omission of sales/purchases returns inability to treat bad debts inclusion of items such as cash sales/purchases which do not belong double counting of discount recording of entries on an individual basis failure to total the debtors/creditors schedule

    Manish K.
    NP
    Manish K.

    information is clear. I understood.

    Penelope M.
    US
    Penelope M.

    every now and then there will always be something that's not accounted for.

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