Agreement of trial balance is affected by :
One sided errors only
Two sided error only
Both a and b
None of these
Give rectification entry for machinery sold wrongly credited to sales a/c.
Cash a/c or To sales a/c
Cash a/c Or To machinery a/c
Machinery a/c or To sales
Sales a/c or To machinery
If errors are not located before the preparation of trial balance in such a case ______ are not required
Rectifying entries
Adjusting entries
Opening entries
closing entries
_______ account is used for rectifying the one sided errors only.
Suspense
Capital
Trial balance
Which of the following is a clerical error
Error of Omission
Error of Commission
Compensatory error
All of these
If Suspense account shows debit balance it will be shown in the __________ side of balance sheet.
Asset
Liabilities
Trial Balance is prepared on a particular date, therefore the words ____ are used
As at .....
As on.....
A mistake of committed intentionally by an accountant to defraud others are called as
Fraud
Mistake
Statement prepared to verify the correctness of ledger posting is termed as
Journal
Ledger
Trial Balance
Balance Sheet
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 errors in the book
There may be both two sided and one sided in the books
