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Question-1
Undercasting of sales book is corrected by:
(A)
Debiting sales account
(B)
Debiting personal account
(C)
Crediting sales account
(D)
Crediting personal account
Question-2
Journal entries passed to correct an error is called:
(A)
Closing entry
(B)
Adjusting entry
(C)
Transfer entry
(D)
Rectification entry
Question-3
Which of the following error does not affect the trial balance?
(A)
Error in casting
(B)
Error of partial omission
(C)
Error of principle
(D)
All of these
Question-4
Which of the following is a clerical error?
(A)
Error of omission
(B)
Error of commission
(C)
Compensating error
(D)
All the above
Question-5
If two sides of trial balance shows an equal balance, it is presumed that:
(A)
the balancing to the ledger are accurate
(B)
the posting to the ledger are accurate
(C)
the journalising to the ledger are accurate
(D)
the transferring to the ledger are accurate
Question-6
Repairs to machinery debited to machinery accounts is:
(A)
Error of principle
(B)
Error in posting
(C)
Error in recording
(D)
Compensatory error
Question-7
Statement prepared to verify the correctness of ledger posting is termed as:
(A)
Journal
(B)
Ledger
(C)
Trial balance
(D)
Balance sheet
Question-8
Which of the following is not an error of principle?
(A)
Purchase of furniture debited to purchase account
(B)
Repairs on the over handling of second hand machinery purchased debited to repairs account
(C)
Cash received from Roy posted to Alen
(D)
Sale of old car canceled to sales account.
Question-9
Which of the following is a clerical error?
(A)
Error of omission
(B)
Error of commission
(C)
Compensatory error
(D)
All of these
Question-10
Which of the following error does NOT affect the trial balance?
(A)
Error in casting
(B)
Error of partial omission
(C)
Error in principle
(D)
All of above
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Cambridge Advanced Grade 12
IGCSE
Practice in Related Chapters
Depreciation and Disposal of Fixed Asset
Bad Debts and Provision for Doubtful Debts
Control Accounts
Petty Cash Books
Incomplete Records
Accounts of Clubs and Societies
Partnership Accounts -PART A
Books of Prime Entry
Accounts of Manufacturing Business
Introduction to Accounting
Double Entry Book Keeping
The Trail Balance
Final Accounts
Accruals and prepayments
Accounting Rules
Bank Reconciliation Statement
Business Documents
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