Errors can occur for which of the following reasons:Mistakes in applying accounting policiesMisinterpretation of factsMathematical mistakesFraud
Question
Errors can occur for which of the following reasons:
- Mistakes in applying accounting policies
- Misinterpretation of facts
- Mathematical mistakes
- Fraud
Solution
Step 1: Read the question and identify the options provided.
Step 2: Analyze the options and identify the correct answer.
Step 3: The question is asking for the reasons why errors can occur. The options provided are:
- Mistakes in applying accounting policies
- Misinterpretation of facts
- Mathematical mistakes
- Fraud
Step 4: The correct answer is that errors can occur for all of the reasons listed in the options.
Step 5: Therefore, the answer to the question is: Errors can occur for the following reasons: mistakes in applying accounting policies, misinterpretation of facts, mathematical mistakes, and fraud.
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