CBSE Questions for Class 11 Commerce Accountancy Trial Balance And Rectification Of Errors Quiz 5 - MCQExams.com

A trade purchase of Rs.5500 from Y was passed through Sale Day book as Rs.550,what rectification entry would be passed if the mistake is detected in the subsequent financial year
  • Sale A/c Dr Rs.550, Purchase A/c Dr Rs. 5500,Y's A/c Cr Rs.6050
  • Profit and loss adjustment A/c Dr Rs.6050, Y's A/c Cr Rs.6050
  • Sales A/c Dr Rs 550,Purchase A/c Dr Rs.5500,Suspense A/c Cr Rs.6050
  • None
Rs.5000 paid as local cartage on material purchased. However this amount was booked under miscellaneous expense A/c instead of on carriage inward. Due to this error net profit and loss will .......
  • increase by Rs. 5000
  • decrease by Rs. 5000
  • increase by Rs. 10,000
  • not be affected at all
Ratification of a contract
  • Can be retrospective
  • Is always prospective
  • Can never be done
  • Can be done any time retrospective or prospective
Rectification of which of these errors will require opening of suspense A/c
  • Purchase of office equipment Rs. 5,000 entered in purchase day book
  • Rs. 4,900 paid to Shyam entered in Shivam A/c
  • Total of sales day book over cast by Rs. 5,000
  • Rs. 1,000 incurred on freight and insurance of office furniture accounted forth freight and insurance A/c
If r=0.8, N=100, the probable error of coefficient of correlation is.........
  • 0.021
  • 0.024
  • 0.29
  • 0.031
Purchase of office computer was recorded in the purchase day book on rectification
  • Cr Purchase A/c
  • Dr. Office Computer A/c
  • Both
  • None
Credit balance in which of these a/c indicate error in the A/c
  • Cash in hand A/c
  • Sales A/c
  • Capital A/c
  • Bank A/c
Select thee false statement
  • Errors of omission does not effect agreement of 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 acounts
  • Compensating errors affect agreement of trial balance
While auditing the A/c for the year 08-09 and 07-08, it was noticed that sales for the year 07-08 was understand by Rs.11,While rectification of this mistake in 08-09, which A/c will be credited.....
  • Profit and loss adjustment A/c
  • Profit and loss appropriation A/c
  • Sales A/c
  • Suspense A/c
In question 16 on rectification Furniture A/c will be
  • Credited by Rs.1,090
  • Debited by Rs.1,090
  • Credited by Rs.901
  • Debited by Rs.109
Which types of errors will effect net profit?
  • Affecting nominal accounts
  • Affecting personal accounts
  • Affecting real accounts
  • None
Debit balance in which of these a/c indicate error in the A/c ___________.
  • Cash in hand A/c
  • Sales A/c
  • Drawing A/c
  • Bank A/c
Which type of error do not effect net profit ?
  • Affecting nominal account only
  • Affecting personal and real a/cs
  • both
  • none
Rs. 5000 paid to Y debited to Ys wifes A/c, thus s an error of
  • Commission
  • Omission
  • Compensating
  • Principle
Rectification of which of these errors will affect profit and loss A/c
  • Purchase of office equipment Rs. 6,000 entered in purchase day book
  • Rs. 501 received from Sudhir posted to Randhir A/c
  • Total of cash book under cast by Rs. 50
  • Rs. 1,200 incurred on freight and insurance of raw material accounted for in salary and wages A/c
Rs. $$10,501$$ received from Gopal, entered in the books of account as Rs. $$501$$. On rectification Gopal's a/c will be.
  • credited by Rs. $$10,000$$
  • debited by Rs. $$10,000$$
  • credited by Rs. $$10,501$$
  • debited by Rs. $$10,501$$
Which of these are added to get balance as per pass book if we start with balance as per cash book
  • Cheque deposited with the bank
  • Cheque issued but not presented for payment
  • Intrest charged by bank on overdrafts
  • Direct payment made by the bank as per standing instructions
Cash payment of Rs. 250 to Ys A/c was credited to his a/c of Rs. 520, on rectification of Ys A/c will be .
  • Credited by Rs. 520
  • Debited by Rs. 770
  • Debited by Rs. 520
  • Credited by Rs. 770
Unfavourable balance as per bank pass book may be due to.....
  • cheques deposited but not credited
  • payment directly made by the bank
  • bank charges levied by the bank
  • all the three
Which of the following is an error of commission:
  • Salary paid to Ram, debited to his A/c
  • Purchase of plant and machinery recorded in purchase day book
  • Wages paid on erection of new plant debited to ages A/c
  • Non-recording of sales in sales-day book
Which of these documents are not required for preparation of Bank Reconciliation Statement
  • Cash book
  • Bank statement
  • Trial balance
  • All the three
Which types of errors will effect net profit 
  • Affecting nominal accounts
  • Affecting personal accounts
  • Affecting real accounts
  • None
 An item of Rs.72 has been debited to a personal account as Rs.27, is an error of __________.
  • commission
  • omission
  • principle
  • none of these
A trial balance is a ________________.
  • Real Account
  • Nominal Account
  • List of balances
  • Personal Account
Trial balance checks.....
  • Compliance with legal provisions
  • Arithmetic accuracy of books of a/c
  • Valuation of inventory
  • All the three
__________ does not help in assuming accuracy of balances of various accounts and preparation of the financial statements.
  • Totals Method
  • Balances Method
  • Totals-cum-balances Method
  • None of the above
______ is time consuming and hardly serves any addition or special purpose.
  • Total Method
  • Balances Method
  • Totals-cum-balances Method
  • None of the above
Which of these accounts generally does not appears in the Trial Balance ___________.
  • Capital a/c
  • Closing stock
  • Drawing A/c
  • Accrued expenses a/c
Which of these is an error of commission?
  • Rs.5,000 received from Suman credited Simran's A/c
  • Freight paid on new machinery debited to freight A/c
  • Salary of Rs.5,000 paid to Shyam debited to his A/c
  • Rs.500 paid to Mohan omitted to be recorded in the books.
_______ is the most widely used method in practice.
  • Total Method
  • Balance Method
  • Totals-cum-balances Method
  • None of the above
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