Question: Please answer the questions 17.6, 17.7 and 17.8 with your detailed explanations, it's much appreciated! 17.6 What is an error of commission? An error where
Please answer the questions 17.6, 17.7 and 17.8 with your detailed explanations, it's much appreciated!


17.6 What is an error of commission? An error where a transaction has not been recorded. An error where one side of a transaction has been recorded in the wrong account, and that account is of a different class to the correct account. An error where one side of a transaction has been recorded in the wrong account, and that account is of the same class as the correct account. An error where the numbers in the posting have been transposed. 17.7 Where a transaction is entered into the correct ledger accounts, but the wrong amount is used, what is the error known as? An error of omission An error of original entry An error of commission An error of principle 8 Daily Co's statement of profit or loss and other comprehensive income for the year ended 31 December 204 showed a profit for the year of $83,600. It was later found that $18,000 paid for the purchase of a motor van had been debited to motor expenses account. It is the company's policy to depreciate motor vans at 25% per year, with a full year's charge in the year of acquisition. What is Daily Co's profit for the year after adjusting for this error? $
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