TRIAL BALANCE & RECTIFICATION OF ERRORS

Errors of Commission do not permit

• the trial balance to agree

• correct total of Balance Sheet

• correct totaling of Trial Balance

• none of the above

Error of Omission arises when:

• any transactions is incorrectly recorded, either wholly or partially

• any transactions is left either wholly or partially

• any transactions is recorded in a fundamentally incorrect manner

• none of these

Error of Principle arises when

• any transaction is recorded in a fundamentally incorrect manner

• any transaction is left to be recorded either wholly or partially

• any of the transaction recorded with double amount

• none of these

An item of Rs.72 has been debited to a personal account as Rs.27, is an error of

• Error of commission

• error of omission

• error of principle

• compensating error

sale of typewriter that has been used in the office credited to sales account, which account is to be credited?

• sales a/c

• cash a/c

• capital a/c

• typewriter a/c

After providing the trial balance the accountant find that the total of debit side is short by Rs.2,500. The difference will be:

• credited to suspense account

• debited to suspense account

• adjusted to any of the debit balance accounts

• adjusted to any of the credit balance accounts

Sales to Shyam of Rs.500 not recorded in the books would affect:

• shyam's account

• sales account

• sales account and shyam's account

• cash account

A balanced (agreed) trial balance is a proof of :- 

• Complete accuracy of accounts 
• There are no errors 
• Only  mathematical accuracy 
• None of these 

Which of the following errors is an error of principle

• Rs.500 received from Rakesh has been debited to his account
• Sales undercast by $100
• Repairs to Machinery have been debited to Machinery Account
• None of the above

When is a suspense account prepared

• when a Balance Sheet fails to balance
• when a trial balance fails to balance
• when an error of omission is corrected
• when an error of principle is corrected