Free Printable Correction of Errors

Worksheets

Correction of Errors

Total questions: 18

Worksheet time: 12mins

Name

Class

Date

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

Error of omission

Error of commission

Error of original entry

Compensating error

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

Error of commission

Error of omission

Error of principle

Compensating error

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

Error of commission

Error of omission

Error of principle

Compensating error

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

Dr Capital Cr salaries exp

Dr salaries expense cr commission income

Dr commission income Cr salaries expense

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

profit will be overstated

profit will be understated

no effect

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

Error of omission

Error of commission

Error of original entry

Compensating error

Purchase of a motor van costing $1000 was recorded in motor expenses account.

Error of omission

Error of commission

Error of original entry

Error of principle

Purchase of a motor van costing $1000 was recorded in motor expenses account.

Error of omission

Error of commission

Error of original entry

Error of principle

When there is error with credit entry not equal to credit entry,

trial balance will not agree

trial balance will agree

supense account will be appeared

there is no suspense account

10.

Which of the following error(s) will create suspense account?

Purchase day book overcast

Sale invoice overcast

Closing inventory overcast

Allowance for doubtful debts over-provided.

11.

Which of the following is an example of error of Principle

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

12.

A suspense account is used to rectify?

Errors affecting trial balance agreement

Errors not affecting trial balance agreement

Both types of errors

None of these

13.

Which of the following is not an example of error of commission

Errors of Wrong totalling

Identification of capital expenditure as revenue expense

Errors of wrong carry forwarding

None of these

14.

Furniture of Rs8000 was purchased from Rahul on credit. Rahul's account was correctly credited but furniture account was debited with Rs80,000. What will be the rectifying entry ?

Suspense a/c dr 8000
To Furniture a/c

Furniture a/c Dr 72000
To Rahul 72000

Rahul dr 72000
To suspense a/c 72000

None of these

15.

Which of the following error would effect the agreement of Trial Balance

Sales to Ram Rs150 posted to his account as Rs175

Sales to Mahesh Rs800 posted to Mukesh as Rs800

A credit sale wrongly passed through purchase book

None of these

16.

State true or false :
If sales , purchases return, liability or income are undercasted , suspense account will be debited and related account will be credited.

True

False

17.

Which of the following statement is incorrect

A trial balance is the proof of arithmetical accuracy of accounts

Double sided errors can be rectified with suspense account or without suspense account

Errors of commission may or may not affect agreement of trial balance

Errors of wrong totaling do not affect trial balance

18.

What will be the rectifying entry if:
Goods of Rs5000 withdrawn by the proprietor for personal use , posted in sales account , however purchases account was correctly credited

Drawings account DR 5000
To sales a/c 5000

Suspense account Dr 5000
To drawings a/c 5000

Sales a/c dr 5000
Drawings a/c Dr 5000
To Suspense a/c 10000

None of these

Reset

Correction of Errors

Total questions: 18

Worksheet time: 12mins

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