Rectification of Errors in Accounting: Before and After Final Accounts
Interactive Video
•
Business
•
10th Grade - University
•
Hard
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3 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
What happens to the suspense account when an error is rectified after final accounts?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
Describe the steps to take when rectifying an under casting error in the sales account.
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the significance of recording rectification entries in the journal proper?
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