Rectification of Errors,How to rectify these Errors
Rectification of Errors
Whatever the reason may be, there is always a chance of error in the books of accounts. These errors in accounting require rectification. The procedure adopted to rectify errors in financial accounting is called"Rectification of Errors"
One way of rectification is that we can simply erase or overwrite the incorrect entry and replace it with the correct one.
But this practice is not allowed in accounting.
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