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Question-1
When the net result of all errors is nil, it is called
(A)
Error omission
(B)
Error of commission
(C)
Error of principle
(D)
Compensating error
Question-2
A trial balance is prepared _____
(A)
After preparation of financial statement
(B)
After recording transaction in Subsidiary book
(C)
After posting to ledger is complete
(D)
After posting to ledger is complete and accounts have been balanced.
Question-3
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.
(A)
One sided
(B)
Two sided
(C)
None of these
(D)
All of these
Question-4
If the trial balance agrees, it implies that
(A)
There is no error in the books
(B)
There may be two sided errors in the book
(C)
There may be one sided error in the book
(D)
There may be both two sided and one sided errors in the books.
Question-5
Which of the following is not an error of principle.
(A)
Purchase of furniture debited to purchase account
(B)
Repairs on the over handling of second hand machinery purchased debited to repairs a/c
(C)
Cash received from Padmanabham posted to Karthik
(D)
Sale of old car canceled to sales account.
Question-6
If errors are not located before the preparation of trial balance in such a case ______ are not required
(A)
Rectifying entries
(B)
Adjusting entries
(C)
Opening entries
(D)
Closing entries
Question-7
________ errors will affect the total of trial balance .
(A)
Two sided error
(B)
One sided error
(C)
None of these
(D)
Both of these
Question-8
If suspense account does not balance off even after reconciliation of errors, it implies that:
(A)
There are some one sided errors only in the books yet to be located
(B)
There are no more errors 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 error yet to be located
Question-9
When sale of goods is not recorded it is ____.
(A)
An error in posting
(B)
Error of omission
(C)
Error of Commission
(D)
Error of principle.
Question-10
If a mistake is committed unintentionally or innocently due to ignorance of accounting principles or due to earliness of an accountant such mistake are called ________
(A)
Fraud
(B)
Error
(C)
Both of these
(D)
None of these
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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
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