
Accounting Errors Quiz

Quiz
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Other
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Hard
iPlus (Meenu)
FREE Resource
15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are accounting errors?
Errors that are always detected
Errors that do not affect financial statements
Mistakes and omissions made unknowingly
Mistakes made knowingly
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are errors classified in accounting?
Into four types
Into two types
Into five types
Into three types
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an error of principle?
A mistake made intentionally
An error that affects the trial balance
A clerical mistake in posting
A mistake in recording a transaction violating an accounting principle
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the trial balance when there is an error of principle?
It shows a loss
It shows a profit
It remains balanced
It is affected
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of an error of principle?
Recording a sale in the wrong account
Debiting machinery in the purchases account
Omitting a transaction completely
Posting an incorrect amount
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are clerical errors?
Errors that are intentional
Errors resulting from wrong posting
Errors made in judgment
Errors that are always detected
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a complete omission?
Recording a transaction in the wrong account
Recording a transaction with the wrong amount
Failing to record a transaction entirely
Recording a transaction partially
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