Correction of Errors

Front

$200 rental payment was not recorded in the books. What is type of this error?

Back

Error of omission

Front

A credit purchase of goods $1200 from Calvin trading was recorded in Clara trading account. Name the error.

Back

Error of commission

Front

A cheque payment of $500 for rent was not recorded. Name the error.

Back

Error of omission

Front

Both salaries expense and commission income were overstated by $900. State the correction of error.

Back

Dr commission income Cr salaries expense

Front

What is the impact on profit for the year if income overstated?

Back

profit will be overstated

Front

Cheque of $300 was issued to settle Mr Chan's account was recorded in Mr Chen's account.

Back

Error of commission

Front

What type of error is made when a purchase of a motor van costing $1000 is recorded in the motor expenses account?

Back

Error of principle

Front

What type of error is made when a purchase of a motor van costing $1000 is recorded in the motor expenses account?

Back

Error of principle

Front

Which error(s) will create a suspense account? Options: Purchase day book overcast, Sale invoice overcast, Closing inventory overcast, Allowance for doubtful debts over-provided.

Back

Purchase day book overcast

Front

Which of the following is an example of error of Principle? Options: Goods sold for Rs50,000 posted as Rs75000, Rent received Rs500 but wrongly debited, Goods of Rs85000 purchased for cash recorded through Furniture account, None of these

Back

Goods of Rs85000 purchased for cash recorded through Furniture account