When the net result of all errors is nil, it is called
Error of omission
Error of commission
Error of principle
Compensating error
Trial Balance is a tabulation of the balances of all the accounts on a ________.
Particular period
Particular date
Both of these
All of these
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
Trial Balance is prepared on a particular date, therefore the words ____ are used
As at .....
As on.....
None of these
Which of the following is not an error of commission.
Over drafting of sales book
Credit sales to Ramesh Rs.5,000 credited to his account
Wrong balancing of machinery account
Cash sales not recorded in cash book
Journal entries passed to correct an error is called
Closing entry
Adjusting entry
Transfer entry
Rectification entry
Which of the following error does not affect the trial balance
Error in casting
Error of partial omission
Error in principle
Which of the following is not an error or principle
Purchase of furniture debited to purchase account
Repairs on the over handling of second hand machinery purchased debited to repairs account
Cash received from Manoj posted to Saroj
sale of old car credited to sales account
If two sides of trial Balance shows an equal balance it is presumed that the ________ to the ledger are accurate.
Balancing
Posting
Journalising
When two mistakes will nullify the effect of each other, such error are termed as _________.
Errors of posting
Errors of duplication
Errors of principle
