CBSE Questions for Class 11 Commerce Accountancy Trial Balance And Rectification Of Errors Quiz 14 - MCQExams.com

If transactions are not recorded in the books of account as per fundamental rules of accounts, such error is said to be an error of _________.
  • commission
  • omission
  • principle
  • casting
Wages paid for installation of machinery wrongly debited to wages account is an error of __________.
  • omission
  • principle
  • commission
  • duplication
A transaction not recorded at all is called as an error of __________.
  • principle
  • complete omission
  • partial omission
  • duplication
If the trial balance does not agree, difference of the trial balance is placed to ________ account.
  • Personal
  • Suspense
  • Rectification
  • Real
Which of the following does not affect the agreement of trial balance?
  • Errors of principle
  • Complete omission in subsidiary books
  • Compensating errors
  • All the three
When transaction has been recorded in total disregard to the fundamentals of double entry system, the mistake or error is called errors of ______.
  • Principle
  • Omission
  • Commission
  • None
Inclusion of freight paid on purchase of an office equipment in freight account is an example of error of _________.
  • principle
  • oimission
  • commission
  • compensating
Which is the correct statement?
  • Errors of principle do not affect agreement of trial balance.
  • Error of complete omission of any transaction is an error of principle.
  • One sided error does not effect trial balance.
  • Error of casting is an error of principle.
Rectification of errors is necessary to _________.
  • Prepare financial statements
  • Ensure true and fairness of books of account
  • Authenticate and audit the accounts
  • All the above
$$Rs.5000$$  paid as cartage on new Plant and Machinery. This was debited to carriage inward A/c. This is an error of __________.
  • principle
  • omission
  • commission
  • compensating
_____________ affect agreement of trial balance.
  • Wrong casting or totalling of the subsidiary books
  • Omission of a transaction in the subsidiary books
  • Writing wrong amount in the subsidiary books
  • Posting a correct amount on correct side but in a wrong account
Which of the following is not an error of principle?
  • Rs. 10,000 paid for erection and commissioning of Plant & Machinery debited to repairs and Maintenance A/c.
  • Rs. 4,000 paid by Shyam, credited to his A/c.
  • Rs.1,000 paid as cartage for office furniture debited to Carriage A/c.
  • Rs.5,000 paid to Gopal as his salary, debited to his A/c.
State whether  the following statements are True or False:
Repairs to buildings is debited to Buildings Account is an error of principle.
  • True
  • False
XYZ purchased trading goods worth $$Rs.50,000$$. This was capitalized along with Plant and Machinery A/c. This is an error of __________.
  • principle
  • omission
  • commission
  • compensating
__________affect two or more accounts.
  • Errors of complete omission
  • Errors of principle
  • Errors of posting to wrong account
  • All of the above
Debit side of XYZ's a/c was overcast by Rs.1,000, on the other hand credit side of PQR's account was overcast by Rs. 1,This is a case of __________error.
  • principle
  • compensating
  • commission
  • none of the above
Sale of office furniture was recorded in sales account. On rectification of this mistake which account will be credited?
  • Suspense a/c
  • Office furniture a/c
  • Sales a/c
  • none of these
Suspense A/c is a __________.
  • Nominal A/c
  • Personal A/c
  • Real A/c
  • All of the above
Which of these is/are errors of commission?
  • Wrong casting of subsidiary books
  • Errors of carry forward
  • Errors of posting
  • All the three
Non-recording of any transaction in primary books is an example of error of ________.
  • Principle
  • Omission
  • Commission
  • Compensatory
Errors in __________ account does not affect profit and loss account.
  • personal 
  • real 
  • both A & B
  • nominal 
In the effect of errors is cancelled out the resultant errors are called______errors.
  • Principle
  • Compensating
  • Commission
  • None of the above
__________ affect only one account.
  • Errors of casting
  • Errors of carry forward
  • Errorrs of posting
  • All the three
Select the false statement:
  • Errors of commission lead to difference in Trial balance.
  • Trial balance is left unaffected by errors of principle.
  • The agreement of trial balance is no guarantee that there is no error in the accounts.
  • All rectification entries are necessarily passed through suspense A/c.
$$Rs.510$$ paid on carriage of office equipment was debited to sundry expenses a/c. On rectification ________ account will be debited.
  • suspense
  • office equipment
  • sales
  • none of these
Credit sales of Rs.5000 was wrongly credited to office equipment. On rectification of this error next year _______.
  • Gross Profit will decrease by Rs.5,000
  • Gross profit will increase by Rs.5,000
  • Sales will increase by Rs.5,000
  • Sales will decrease by Rs.5,000
ParticularDebit Rs.Credit Rs.
Sales20,000
Purchases15,000
Miscellaneous expenses1,500
Salaries3,500
Total16,50023,500
The difference in the above trial balance is due to __________.
  • wrong placing of sales account.
  • wrong placing of salaries account.
  • wrong placing of miscellaneous expenses account.
  • wrong placing of all accounts.
$$Rs.4500$$ spent on repair of office equipment debited to office equipment a/c.On rectification of profit and loss a/c ________.
  • Profit decrease by $$Rs. 4500$$
  • Understate profit by $$Rs.4500$$
  • No affect at all
  • Debtors a/c will be overcast by $$Rs.4500$$
Errors in________affects profit and loss A/c.
  • Personal A/c
  • Real A/c
  • Nominal A/c
  • None
Error of commission arises when ___________.
  • any transaction is incorrectly recorded, either wholly or partially
  • any transaction is left either wholly or partially
  • any transaction is recorded in a fundamentally incorrect manner.
  • None of these
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Practice Class 11 Commerce Accountancy Quiz Questions and Answers