Which accounting error may occur when the decimal point is placed incorrectly?

The error that occurs when the decimal point is placed incorrectly is known as a slide error. A slide error happens when a number is recorded with a wrong placement of the decimal point, which alters its value significantly. For example, writing $1500 instead of $15.00 results in a substantial difference in the amount represented. This type of mistake can lead to considerable inaccuracies in financial reporting, as it misstates the values involved.

Omission errors involve failing to include a transaction or account, which does not specifically pertain to the placement of decimal points. Transposition errors occur when digits within a number are switched around, such as entering 123 as 132, which is distinct from decimal placement issues. Accrual or deferral errors are related to timing differences in recognizing revenues or expenses, rather than the numerical precision related to decimal points, and therefore do not apply in this context. Slide errors specifically address the concern of decimal misplacement and the resultant impact on financial figures.