Smartindia Classroom
CONTENTS
Accountancy
Business Studies
Computer Science
English I
Economics
English II
Back to home
Start Practice
Question-1
When the net result of all errors is nil, it is called
(A)
Error of omission
(B)
Error of commission
(C)
Error of principle
(D)
Compensating error
Question-2
Statement prepared to verify the correctness of ledger posting is termed as ________.
(A)
Journal
(B)
Ledger
(C)
Trial Balance
(D)
Balance Sheet
Question-3
If suspense account does not balance off even after rectification of errors it implies that
(A)
There are some one sided error only in the books yet to be located
(B)
There are no more error yet to be located
(C)
There are some two sided errors only yet to be located
(D)
There may be both one sided errors and two sided errors yet to be located
Question-4
If wages paid for installation of new machinery is debited to wages Account, it is :
(A)
An error of Commission
(B)
An error of principle
(C)
A compensating error
(D)
An error of omission
Question-5
If two sides of trial Balance show equal balance it is presumed that the ________ to the ledger are accurate.
(A)
Balancing
(B)
Posting
(C)
Journalising
(D)
None of these
Question-6
Finally preparation of trial balance is _________.
(A)
Compulsory
(B)
Not compulsory
(C)
Both of these
(D)
None of these
Question-7
Balance method of preparing trial balance is other wise known as __________.
(A)
Net trial balance
(B)
Gross trial balance
(C)
Net cum balance method
(D)
None of these
Question-8
Which of the following is a clerical error
(A)
Error of Omission
(B)
Error of Commission
(C)
Compensatory error
(D)
All of these
Question-9
If a wrong amount is posted it will not detect through trial balance is an error of _______.
(A)
Omission
(B)
Commission
(C)
Principle
(D)
Duplication
Question-10
___________ forms a connecting link between the ledger account and the final account.
(A)
Journal
(B)
Ledger
(C)
Trial balance
(D)
Balance sheet
Your Score 0/10
Click
here
to see your answersheet and detailed track records.
Plus 1 Commerce
ICSE/ISC
Practice in Related Chapters
Introduction Of Accounting
Concepts, Standards And Basis
Classification Of Accounts Under Double Entry System And Accounting Equation
Ledger
Trial Balance
Final Accounts Or (Financial Statements)
Journal
Sub-Division Of Journal : Cash Book
Sub-Division Of Journal : Specified purpose Subsidiary
Bank Reconciliation Statement
Rectification Of Errors
Capital And Revenue Expenditure/Income
Depreciation Accounting
Provisions And Reserves
Single Entry System : Accounts From Incomplete Records
Accounts of Non Trading Organization
Bills of Exchange
Introduction To The Use Of Computers In Accounting
Accounting concepts,standards and basis
Introduction to Accounting
Depreciation, Provision and Reserves
Trial Balance and Rectification of Errors
Depreciation, Provision and Reserves
Powered By
