Which of the following errors will be rectified through suspense account.
Sales return book under cast by Rs. 1,000
Sales return by Madhu Rs. 1,000 not recoded
Sales return by Madhu Rs. 1,000 recorded as Rs. 100
Sales return by Madhu Rs.1,000 recorded through purchase return book
Goods sold Rs. 500/- is omitted to record the books of accounts are examples of _______.
Errors of commission
Errors of principles
Duplicating error
Errors of Omission
Which of the following error does not affect the trial balance?
Error in casting
Error of partial omission
Error of principle
All of these
If a transaction is recorded twice in the books of accounts, such error are called _______.
Error of duplication
Error of Omission
Error of Commission
Error of posting
When an accounting principle is violated while recording a transaction in the books of account is an example of ________.
Errors of Commission
Errors of omission
Which of the following is not an error of principle.
Purchase of furniture debited to purchase account
Repairs on the overhandling of second hand machinery purchased debited to repairs a/c
Cash received from Padmanabham posted to Karthik
Sale of old car canceled to sales account.
When the net result of all errors is nil, it is called
Error of omission
Error of commission
Compensating error
If Suspense account shows debit balance it will be shown in the __________ side of balance sheet.
Asset
Liabilities
None of these
___________ forms a connecting link between the ledger account and the final account.
Journal
Ledger
Trial balance
Balance sheet
Trial Balance is _________.
Account
Statement
Both a and b
