CBSE Questions for Class 11 Commerce Accountancy Trial Balance And Rectification Of Errors Quiz 12 - MCQExams.com

A sale of office furniture credited to Sales Account :
  • Is an error of omission
  • Will affect the trial balance
  • Will not affect the profit
  • None of these
Which of the following errors will not affect the Trial Balance?
  • Wrong carry-forward of an account
  • Wrong totaling of an account
  • Wrong balancing of an account
  • Omission of an account from Trial Balance
  • posting a correct amount in the wrong account on correct side.
Credit purchase of goods worth Rs 10000 was recorded as credit sale to Mr. X , the mistake was discovered after 2 months. Rectifying entry is to be made in ?
  • Journal Proper( General Journal)
  • Sales Book.
  • Cash Book.
  • Purchases Book.
A purchase of Rs.10,000 has been wrongly posted to the credit of sales  Accountant had been correctly entered in the Supplier Account. This error _____________.
  • is an Error of Principle
  • will not affect the Trial Balance
  • Will not affect the Gross Profit
  • None of these
The main object of opening suspense account is ___________.
  • To tally the trial balace
  • To avoid the delay in the preparation of financial statements
  • To rectify the errors
  • None of these
Which of the following errors will affect the Trial Balance?
  • Errors of complete omission.
  • Errors of recording in the books of original entry.
  • Errors of posting involving the posting to the wrong account on the correct side with the correct amount.
  • Errors of principle
  • Compensating errors
  • Correct recording in the cash book but not posted in the ledger at all.
Rent paid to landlord, and Ram's account has been debited.
 This error ____________ .
  • is an error of commission
  • will affect the trial balance
  • will not affect the profit
  • None of these
Good returned by Y for Rs.10,000 passed through the purchases Book. The error will result in _________________.
  • Increases in gross profit
  • Decrease in gross profit
  • No effect on gross profit
  • Either (a) or (b)
Goods sold to Y for Rs.10,000 passed through the Purchase Book. The error will result in _______________.
  • Increase in gross profit
  • Decrease in gross profit
  • No effect on gross profit
  • Either (a) or (b)
Good returned to X for Rs.10,000 passed through the purchase Book. The error will result in ______________.
  • Increase in gross profit
  • Decrease in gross profit
  • No effect on gross profit
  • Either (a) or (b)
Goods Purchased from Y for Rs. 4000, now returned, are passed through Purchase book. This is an error of ______.
  • omission
  • commision
  • principle
  • compensating
Sales to Meena Rs. 143 was debited as 413 _________________.
  • is an error of omission
  • will not affect the trial balance
  • will not affect the profit
  • None of these
A purchase of Rs. 10,000 has been wrongly posted to the credit of sales Account but had been correctly entered in the Supplier's Account. This is an error of ______.
  • Omission
  • Commission
  • Principle
  • Compensating
Amount of Rs. 15000 taken for personal use from business account recorded as business expenses. This is an error of ______.
  • omission
  • commission
  • principle
  • compensating
A purchase of Rs. 10,000 has been wrongly posted to the debit of Supplier's  Account but had been correctly entered in the Purchases Account. This is an error of ____________.
  • Omission
  • Commission
  • Principle
  • Compensating
Goods costing Rs. 15000 given as charity were not recorded. This is an error of ______.
  • Omission
  • Commission
  • Principal
  • Compensating
A purchase of Rs. 10,000 has been wrongly posted to the credit of Purchase Account but had been correctly entered in the Supplier's Account. This is an error of ______.
  • Omission
  • Commission
  • Principle
  • Compensating
Goods costing Rs. 25000 destroyed by fire were not recorded. This is an ______.
  • Omission
  • Commission
  • Principal
  • Compensating
Goods costing Rs. 55000 distributed as free samples were not recorded. This is an error of _____.
  • Omission
  • Commission
  • Principal
  • Compensating
Goods costing Rs. 35000 destroyed by fire were no recorded. This _________________.
  • will affect the agreement of trial balance
  • will not affect the agreement of trial balance
  • may or may not affect
  • None of these
Which type of error occurs when credit sale is wrongly posted to purchases book?
  • Error of commission
  • Error of omission
  • Compensatory error
  • Error of principle
Rs 25,000 received from Aditi, is credited in the account of Prerna. It is an error of:
  • Principle
  • Commission
  • Omission
  • Compensatory
Error relating to fundamental aspect of accounting is known as.
  • Error of principle
  • Error of omission
  • Error of commission
  • Compensating error
If no entry is made for goods returned by Anjani worth Rs.4,000, the rectifying entry will be to Dr _________A/c 4,000 and credit _______ A/c 4,000.
  • Anjani; Sales
  • Sales Return; Anjani
  • Suspense: Anjani
  • Anjani; Sales Return
When the total of trial balance is not reconciled, the account opened at this juncture is:
  • Trading account
  • Suspense account
  • Profit & loss account
  • None of these
An item of Rs 84 has been wrongly entered as RsThis is an error of
  • Omission
  • Commission
  • Principle
  • No consequence
Which of the statements are true.
  • Trial Balance is prepared after preparing the P& L A/c
  • Trial Balance is prepared after preparing the Balance Sheet
  • Trial Balance is prepared before preparing the Balance Sheet
  • None of these
Error of Commission will not permit
  • Correct Total of the Balance Sheet
  • Correct Total of the Trial Balance
  • The Trial Balance to agree
  • None of the above
Closing stock of previous year is overvalued by Rs. $$50,000$$. Due to this.
  • Previous year's profit is overstated and current year's profit is understated
  • Previous year's profit is understated and current year's profit is overstated
  • Previous years profit is overstated and current year's profit is overstated
  • Previous year's profits is understated and current year's profit is understated
Trial balance is prepared from ____________.
  • Journal
  • Ledger
  • Cash book
  • None of these
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