
FOA Errors
Quiz
•
Professional Development
•
Professional Development
•
Practice Problem
•
Hard
Danevia Powell
Used 3+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
There are errors that do not affect the trial balance and errors that do affect the trial balance.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following are errors that do not affect the trial balance except:
Omission
Commission
Reversal of entries
Incorrect additions
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
All of the following are errors which affect the trial balance except:
Incorrect additions
Reversal of entries
Incomplete postings
Incorrect transfers
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
This error involves the posting of a transaction to a wrong class of accounts. Eg. payment for motor repairs (expense) recorded in the motor vehicle account (asset)
Omission
Commission
Principle
Original Entry
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
This error involves a transaction which may have been recorded in the wrong account in a particular class. Eg. payment form D. Stephens may have been posted to D. Stephenson
Omission
Commission
Principle
Reversal of Entries
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Identify the error from this scenario. Scenario: Cheque for $2000 received from M. Waugh was credited to S. Waugh
Omission
Commission
Principle
Original Entry
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Identify the error from this scenario. Scenario: . Lodgment of $10,000 cash to the bank was posted as Dr in cash and Cr in Bank
Reversal of Entry
Principle
Commission
Omission
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