Trial Balance Test

Result

Trial Balance Test - 2

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following is not a type of errors of commission

A
Error of posting

B
Error of principle

C
Error of recording

D
Error of casting

Solution

Error of principle arises due to violation of accounting principles. Error of commission arises when transactons are wrongly recorded or posted.
Question 2
1 / -0

Debit balance of suspense account will be shown at _____ side and Credit balance will be shown at _____ side of balance sheet.

A
Capital , Assets

B
Assets, Capital

C
Assets, liabilities

D
Liabilities, Assets

Solution

Debit balance of every account is shown at the assets side while the credit balance is shown at liabilities side.
Question 3
1 / -0

The disagreements of trial balance indicate that an _____ has been committed.

A
Fault

B
Rectification

C
Error

D
None

Solution

Accounting errors cause disagreement of the trial balance.
Question 4
1 / -0

Time of depiction of an error means

A
Error detected before the preparation of trial balance

B
Error detected after the preparation of trial balance

C
Error detected after the preparation of final accounts

D
All of these

Solution

Time of depiction of an error means the time when the error committed is detected. It may happen before or after the preparation of trial balance or even after the preparation of final accounts.
Question 5
1 / -0

Trial balance is affected by

A
One sided error

B
Two sided error

C
Both

D
None

Solution

Trial balance is not affected by two sided errors because in these errors, every error is neutralized by an equal and opposite error.
Question 6
1 / -0

Suspense account is opened when ____ does not tally

A
Trial balance

B
Profit and loss

C
Trading account

D
Balance sheet

Solution

When accounting errors cause the trial balance to disagree, suspense account is opened to tally the trial balance.
Question 7
1 / -0

Which of the following is not an error of principle

A
Cash paid to Karan (an employee) posted to salary

B
Repair or the over hauling of machinery purchased debited to repairs account

C
Purchase of furniture debited to purchase account

D
Sale of old car credited to sales account

Solution

it will be an error of principle only if Karan is not an employee.
Question 8
1 / -0

In Trial balance which item is showed as a debit balance

A
Purchase Return

B
Sales

C
Prepaid Expenses

D
Outstanding Salary

Solution

Prepaid Expenses
Question 9
1 / -0

Trial balance is equal from both sides but still there is some error. It indicate that:

A
There may be one sided error in the book

B
There may be two sided error in the book

C
There is no error in the book

D
There may be two sided and one sided error in the book

Solution

Two sided errors do not cause the trial balance to disagree, only one sided errors do.
Question 10
1 / -0

Which of the following error will be rectified through suspense account

A
Purchase return to Vishal Rs.1000 recorded through Sales return book

B
Purchase return to Vishal Rs.1000 not recorded

C
Purchase return to Vishal Rs.1000 recorded as Rs.100

D
Purchase return book under cast by 1000

Solution

This is a one sided error, which are rectified by opening suspense account.

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Re-Attempt Weekly Quiz Competition

Trial Balance Test - 2

Result

Trial Balance Test - 2

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SHARING IS CARING

Question 1

Error of posting

Error of principle

Error of recording

Error of casting

Solution

Question 2

Capital , Assets

Assets, Capital

Assets, liabilities

Liabilities, Assets

Solution

Question 3

Fault

Rectification

Error

None

Solution

Question 4

Error detected before the preparation of trial balance

Error detected after the preparation of trial balance

Error detected after the preparation of final accounts

All of these

Solution

Question 5

One sided error

Two sided error

Both

None

Solution

Question 6

Trial balance

Profit and loss

Trading account

Balance sheet

Solution

Question 7

Cash paid to Karan (an employee) posted to salary

Repair or the over hauling of machinery purchased debited to repairs account

Purchase of furniture debited to purchase account

Sale of old car credited to sales account

Solution

Question 8

Purchase Return

Sales

Prepaid Expenses

Outstanding Salary

Solution

Question 9

There may be one sided error in the book

There may be two sided error in the book

There is no error in the book

There may be two sided and one sided error in the book

Solution

Question 10

Purchase return to Vishal Rs.1000 recorded through Sales return book

Purchase return to Vishal Rs.1000 not recorded

Purchase return to Vishal Rs.1000 recorded as Rs.100

Purchase return book under cast by 1000

Solution

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