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WorksheetsAccounting Quiz
Total questions: 10
Worksheet time: 6mins
If any amount is posted to wrong account, or written on wrong side, or total is wrong, or balance is wrong, it will be a case of..
Error of Commission
Error of Omission
Error of Principle
None of the above
2. If the suspense account does not balance off even after rectification of errors, it
implies that..
There are some one-sided errors only in the books yet to be ascertained
There are no more errors yet to be ascertained
There are some two-sided errors only, that is yet to be ascertained
There may be both two-sided errors and one-sided errors, that are yet to be ascertained
If the two sides of the trial balance do not tally, which account is opened?
(a)
If wages paid for the installation of new machinery is debited to the wages account, it is ___________?
An error of commission
An error of principle
A compensating error
An error of omission
The error which can be disclosed by trial balance is ________
Error of omission
Error of principle
Compensatory error
None of the above
A trial balance is prepared after _______.
Preparation of the financial statement
Recording the transactions in the subsidiary books
Posting it to the ledger is complete
Posting it to the ledger is complete, and the accounts have been balanced
Trial balance is ______
An account
A statement
A subsidiary book
A principal book
If the trial balance agrees, it implies that ______.
There are no errors in the book
There may be two-sided errors in the book
There may be one-sided errors in the book
There may be both one-sided errors and two-sided errors in the books
Which of the following is not an error of
principle?
Purchase of furniture debited to purchase account
Repairs on the overhauling of second-hand machinery purchased debited to repairs account
Cash received from XYZ posted to ABC
Sale of old car credited to sales account
Which of the following is prepared on the basis of trial balance?
Journal
Ledger
Final Accounts
None of the above
