Computer · Accounting Principles
Which one of the following transactions constitutes an error of principle?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Plant and machinery purchased was credited to the equipment account.
- 2Plant and machinery purchased was debited to the equipment account.
- 3Plant and machinery purchased was debited to the purchases account.✓
- 4Plant and machinery purchased was credited to a non-current assets account.
Correct answer
Plant and machinery purchased was debited to the purchases account.
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