Chapter 9: Rectification of Errors March 18, 2024 Maven Leave a Comment Welcome to the Chapter 9: Rectification of Errors Quiz! This quiz is based on the book back questions. Name Email 1. Errors not affecting the agreement of trial balance are Errors of principle Errors of overcasting Errors of undercasting Errors of partial omission None 2. Which of the following errors will not affect the trial balance? Wrong balancing of an account Posting an amount in the wrong account but on the correct side Wrong totalling of an account Carried forward wrong amount in a ledger account None 3. A transaction not recorded at all is known as an error of Principle Complete omission Partial omission Duplication None 4. Which of the following errors will be rectified using suspense account? Purchases returns book was undercast by Rs. 100 Goods returned by Narendran was not recorded in the books Goods returned by Akila Rs.900 was recorded in the sales returns book as Rs.90 A credit sale of goods to Ravivarman was not entered in the sales book. None 5. Goods returned by Senguttuvan were taken into stock, but no entry was passed in the books. While rectifying this error, which of the following accounts should be debited? Senguttuvan account Sales returns account Returns outward account Purchases returns account None 6. The difference in trial balance is taken to The capital account The trading account The suspense account The profit and loss account None 7. The total of purchases book was overcast. Which of the following accounts should be debited in the rectifying journal entry? Purchases account Suspense account Creditor account None of the above None 8. Wages paid for installation of machinery wrongly debited to wages account is an error of Partial omission Principle Complete omission Duplication None 9. Error of principle arises when There is complete omission of a transaction There is partial omission of a transaction Distinction is not made between capital and revenue items There are wrong postings and wrong castings None 10. A credit purchase of furniture from Athiyaman was debited to purchases account. Which of the following accounts should be debited while rectifying this error? Purchases account Athiyaman account Furniture account None of these None Time's up Related Posts:Chapter 1: Introduction to Micro EconomicsChapter 2. Consumption AnalysisChapter 3: Production AnalysisChapter 4: Cost and Revenue Analysis
Leave a Reply