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Identifying Accounting Errors: Types & Importance

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Incorrectly rounding a whole number up or down is known as a/an _____.

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1. An error of _____ is when a transaction is not recorded.

2. An error of _____ is a large subset of accounting errors that describes when a transaction is improperly recorded or calculated.

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About This Quiz & Worksheet

The quiz/worksheet combo is available to help you identify how much you know about identifying accounting errors. The types of accounting errors and their significance are topics on the quiz.

Quiz & Worksheet Goals

You can check your understanding of:

  • Error when a transaction is not recorded
  • Incorrectly rounding a whole number up or down
  • How fraud occurs
  • Error when two digits are reversed when one inputs the transaction

Skills Practiced

  • Reading comprehension - ensure that you draw the most important details from the lesson on finding common accounting errors
  • Information recall - access the knowledge you have gained about a large subset of accounting errors that describes when a transaction is improperly recorded or calculated
  • Knowledge application - use your knowledge to answer questions about the different types of accounting errors

Additional Learning

If you would like review more, use the lesson called Identifying Accounting Errors: Types & Importance. Use this lesson to study more about:

  • How accounting errors occur
  • The impact of different accounting errors
  • Differences between fraud and accounting errors
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