MCQ Chapter 8 Accountancy Class 11 Maharashtra Board Rectification of Errors 1. Which of the following errors does not affect the agreement of the Trial Balance?Errors of CommissionErrors of OmissionErrors of CastingOne-sided errorsQuestion 1 of 202. What type of error occurs when a transaction is completely missed in the books of accounts?Error of CommissionError of PrincipleComplete OmissionCompensating ErrorQuestion 2 of 203. Errors of posting fall under which type of error?Errors of OmissionErrors of CommissionErrors of PrincipleCompensating ErrorsQuestion 3 of 204. Wages paid for installation of machinery wrongly debited to Wages A/c is an error of –OmissionCommissionPrincipleCompensatingQuestion 4 of 205. What is the correct rectification if goods sold to Aryan for ₹2,000 were omitted?Sales A/c Dr.To Aryan’s A/cCash A/c Dr.To Sales A/cAryan’s A/c Dr.To Sales A/cNo EntryQuestion 5 of 206. If the total of the purchase book is undercast by ₹500, what is the rectification?Credit Suspense A/c ₹500Debit Purchase A/c ₹500Debit Suspense A/c ₹500Credit Purchase A/c ₹500Question 6 of 207. A suspense account is opened when –Profit and Loss account doesn’t matchTrial Balance doesn’t tallyBalance Sheet doesn’t matchCash book is incorrectQuestion 7 of 208. Posting of ₹3,000 received from a debtor as ₹300 is what type of error?Error of PrincipleError of CommissionCompensating ErrorError of OmissionQuestion 8 of 209. Compensating errors –Affect only one accountAre always errors of principleNullify each other’s effectsAffect the Trial BalanceQuestion 9 of 2010. Rectification of errors is necessary to –Reduce taxMisrepresent profitFind accurate profit or lossBalance the Cash BookQuestion 10 of 2011. Errors of principle usually arise due to –Posting to wrong sideWrong totalingViolation of accounting rulesDouble entry omissionQuestion 11 of 2012. Which of the following is a two-sided error?Goods purchased not recordedSale entered in purchase bookDiscount not postedPurchase return overcastQuestion 12 of 2013. If the debit side of the Trial Balance exceeds, the difference is posted to –Profit & Loss A/cSuspense A/c (Credit side)Suspense A/c (Debit side)Capital A/cQuestion 13 of 2014. Wages paid for building extension debited to Wages A/c is –Error of OmissionError of CommissionError of PrincipleCompensating ErrorQuestion 14 of 2015. An example of complete omission is –Recorded wrong amountFailed to post in ledgerSales not recorded at allEntered in wrong accountQuestion 15 of 2016. When is a Suspense Account automatically closed?At year-endOn detection of all errorsAfter preparing final accountsNeverQuestion 16 of 2017. If rent paid for proprietor’s residence is debited to Rent A/c, the correct entry is –Rent A/c Dr.To Capital A/cDrawings A/c Dr.To Rent A/cSuspense A/c Dr.To Rent A/cRent A/c Dr.To Drawings A/cQuestion 17 of 2018. Trial Balance agrees but errors still exist.This implies –No errorSuspense A/c should be usedErrors don’t affect Trial BalanceFinal accounts are incorrectQuestion 18 of 2019. Which error affects only one account?Complete omissionError of commissionOne-sided errorCompensating errorQuestion 19 of 2020. If Sales Book is overcast by ₹2,000, what is the rectification?Debit Suspense A/c ₹2,000Credit Suspense A/c ₹2,000Debit Sales A/c ₹2,000Credit Sales A/c ₹2,000Question 20 of 20 Loading...
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