Trial Balance and Rectification of Errors Test 11

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Trial Balance and Rectification of Errors Test 11

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Weekly Quiz Competition

Question 1
1 / -0

Rs. 5000 paid to Y debited to Ys wifes A/c, thus s an error of

A
Commission

B
Omission

C
Compensating

D
Principle
Question 2
1 / -0

Rs. $$10,501$$ received from Gopal, entered in the books of account as Rs. $$501$$. On rectification Gopal's a/c will be.

A
credited by Rs. $$10,000$$

B
debited by Rs. $$10,000$$

C
credited by Rs. $$10,501$$

D
debited by Rs. $$10,501$$
Question 3
1 / -0

Trial balance checks.....

A
Compliance with legal provisions

B
Arithmetic accuracy of books of a/c

C
Valuation of inventory

D
All the three

Solution

Trial Balance is a statement where balances of all the ledger accounts are posted and balanced.
The Debit Column of Trial Balance should match with the Credit Column.
It checks the arithmetic accuracy of the books of accounts.
Trial Balance is useful in the preparation of the final accounts.
Question 4
1 / -0

Cash payment of Rs. 250 to Ys A/c was credited to his a/c of Rs. 520, on rectification of Ys A/c will be .

A
Credited by Rs. 520

B
Debited by Rs. 770

C
Debited by Rs. 520

D
Credited by Rs. 770
Question 5
1 / -0

Which of these documents are not required for preparation of Bank Reconciliation Statement

A
Cash book

B
Bank statement

C
Trial balance

D
All the three
Question 6
1 / -0

Which of the following is an error of commission:

A
Salary paid to Ram, debited to his A/c

B
Purchase of plant and machinery recorded in purchase day book

C
Wages paid on erection of new plant debited to ages A/c

D
Non-recording of sales in sales-day book
Question 7
1 / -0

Which of these accounts generally does not appears in the Trial Balance ___________.

A
Capital a/c

B
Closing stock

C
Drawing A/c

D
Accrued expenses a/c

Solution

Closing stock is the balance of unsold goods that are remaining from the purchases made during an accounting period.
If closing stock is included in the Trial Balance , the effect will be doubled. Hence, it will not reflect in the Trial Balance.
Question 8
1 / -0

Which of these is an error of commission?

A
Rs.5,000 received from Suman credited Simran's A/c

B
Freight paid on new machinery debited to freight A/c

C
Salary of Rs.5,000 paid to Shyam debited to his A/c

D
Rs.500 paid to Mohan omitted to be recorded in the books.
Question 9
1 / -0

Unfavourable balance as per bank pass book may be due to.....

A
cheques deposited but not credited

B
payment directly made by the bank

C
bank charges levied by the bank

D
all the three
Question 10
1 / -0

Directions For Questions

An old furniture was sold for Rs.2,000, but the amount has been entered in the Sales Day book as 200. On rectification of this error suspense A/c will be....

...view full instructions

On rectification of this error suspense A/c will be....

A
Debited by Rs.1,800

B
Credited by Rs.2,000

C
Debited by Rs.2,200

D
Credited by Rs.400

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Re-Attempt Weekly Quiz Competition

Trial Balance and Rectification of Errors Test 11

Result

Trial Balance and Rectification of Errors Test 11

Score

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SHARING IS CARING

Question 1

Commission

Omission

Compensating

Principle

Question 2

credited by Rs. $$10,000$$

debited by Rs. $$10,000$$

credited by Rs. $$10,501$$

debited by Rs. $$10,501$$

Question 3

Compliance with legal provisions

Arithmetic accuracy of books of a/c

Valuation of inventory

All the three

Solution

Question 4

Credited by Rs. 520

Debited by Rs. 770

Debited by Rs. 520

Credited by Rs. 770

Question 5

Cash book

Bank statement

Trial balance

All the three

Question 6

Salary paid to Ram, debited to his A/c

Purchase of plant and machinery recorded in purchase day book

Wages paid on erection of new plant debited to ages A/c

Non-recording of sales in sales-day book

Question 7

Capital a/c

Closing stock

Drawing A/c

Accrued expenses a/c

Solution

Question 8

Rs.5,000 received from Suman credited Simran's A/c

Freight paid on new machinery debited to freight A/c

Salary of Rs.5,000 paid to Shyam debited to his A/c

Rs.500 paid to Mohan omitted to be recorded in the books.

Question 9

cheques deposited but not credited

payment directly made by the bank

bank charges levied by the bank

all the three

Question 10

Debited by Rs.1,800

Credited by Rs.2,000

Debited by Rs.2,200

Credited by Rs.400

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