An error which occur simultaneously in two account as one account has been wrongly debited and another account has been wrongly credited is known as _______ errors.
One sided
Two sided
None of these
All of these
Which of the following is a clerical error
Error of Omission
Error of Commission
Compensatory error
If wages paid for installation of new machinery is debited to wages Account, it is :
An error of Commission
An error of principle
A compensating error
An error of omission
If the trial balance agrees, it implies that
There is no error in the books
There may be two sided errors in the book
There may be one sided error in the book
There may be both two sided and one sided errors in the books.
Total Amount method of preparing trial balance is other wise known as ________.
Gross trial balance method
Total cum balance method
Balance method
If suspense account does not balance off even after rectification of errors it implies that
There are some one sided error only in the books yet to be located
There are no more error yet to be located
There are some two sided errors only yet to be located
There may be both one sided errors and two sided errors yet to be located
Trial Balance is a tabulation of the balances of all the accounts on a ________.
Particular period
Particular date
Both of these
If the trial balance agrees. It implies that ___________
There may be one sided errors in the book
There may be both two sided and one sided in the books
When the net result of all errors is nil, it is called
Error of omission
Error of commission
Error of principle
Compensating error
Error omission
