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
If Suspense account shows debit balance it will be shown in the __________ side of balance sheet.
Asset
Liabilities
None of these
All of these
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
Which of the following error does not affect the trial balance.
Error in casting
Error of partial omission
Error in principle
All of above
Repairs to machinery debited to machinery Account is
Error of principle
Error in posting
Error in recording
Compensatory error
Trial Balance classifies accounts into two section as _________ and ________
Expenses and Losses
Incomes and gain
Accounts having debit balance and accounts having credit balance
When the net result of all errors is nil, it is called
Error of omission
Error of commission
Compensating error
If suspense account does not balance off even after reconciliation of errors, it implies that:
There are some one sided errors only in the books yet to be located
There are no more errors 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 error yet to be located
Balance method of preparing trial balance is other wise known as
Net trial balance
Gross trial balance
Net cum balance method
