Rectification Of Errors Quizz

MCQ’s For All Chapters – Accounts Class 11th

A Machine was Purchased for Rs. 3,000 which was wrongly recorded in Purchase A/c. due to this error :

A. Trial Balance will show difference by Rs. 3,000

B. Trial Balance will not show difference by Rs. 3,000

C. Both (a) and (b)

D. None

Question 1 of 30

Sale to Mr. Z of Rs. 3,000 on credit was recorded twice in the sales book. The rectification entry is :

A. Mr. Z will be credited

B. Mr. Z will be debited

C. Sales account will be credited

D. None

Question 2 of 30

‘A’ sold goods to ‘B’ on credit for Rs. 15,000 but debited to ‘C’ instead of ‘B’. The entry would affect:

A. Trial Balance

B. Individual Ledgers

C. Balance Sheet

D. Total Debtors

Question 3 of 30

When the total of trial balance is not reconciled, the account opened at this juncture is :

A. Trading Account

B. Suspense account

C. Profit & Loss account

D. None of these

Question 4 of 30

Total of sales book was understated by Rs. 200. Rectification entry will be:

A. Sales A/C Debit, Suspense A/C Credit

B. Suspense A/C Debit, Sales A/C Credit

C. Debtor A/C Debit, Sales A/C Credit

D. Sales A/C Debit, Debtors A/C Credit

Question 5 of 30

The goods sold for Rs. 900 but the amount was entered in the sales Account as Rs. 1080. On Rectification, suspense account will be:

A. Debited by Rs. 180

B. Credited by Rs. 180

C. Debited by Rs. 1080

D. Credited by Rs. 1080

Question 6 of 30

An amount of Rs. 6,000 due from Anshul, which had been written off as a bad debt in a previous year, was unexpectedly recovered and had been posted to his personal account. The rectification entry is :

A. Anshul A/c Dr. Rs. 6,000To Suspense A/c Rs. 6,000

B. Suspense A/c Dr. Rs. 6,000To Bad Debts
Recovered A/c Rs. 6,000

C. No entry will be made

D. Anshul A/c Dr. Rs. 6,000To Bad Debts
Recovered A/c Rs. 6,000

Question 7 of 30

Sale of old furniture is wrongly transferred to Sales Account. Which type of error is this ?

A. Error of Principle

B. Compensating Error

C. Error of Omission

D. Error of Commission

Question 8 of 30

Wages paid for the erection of a machine debited to Wages A/c is an example of :

A. Error of Principle

B. Clerical Error

C. Error of Omission

D. Error of commission

Question 9 of 30

10.

A purchase of computer was debited to Office Expenditure Account. This is an error of :

A. Commission

B. Omission

C. Principle

D. Compensatory Error

Question 10 of 30

11.

Credit sale of Rs. 10,000 made to Sallu was passed through purchase book. The proper entry for rectification was the following :

A. Sallu A/c Dr. 10,000To Sales A/c 10,000

B. Sallu A/c Dr. 20,000To Purchases A/c 20,000

C. Sallu A/c Dr. 20,000To Sales A/c 10,000

To Purchases A/c 10,000

D. None of the above

Question 11 of 30

12.

The beginning stock of the current year is overstated by Rs. 500 and closing stock is overstated by Rs. 1200. Effect on profit:

A. Rs. 1700 (overstated)

B. Rs. 1200 (understated)

C. Rs. 1700 (understated)

D. Rs. 700 (overstated)

Question 12 of 30

13.

An amount of Rs. 8,765 paid to M was debited to N’s a/c. The rectification of the error will-

A. Increase the net profit

B. Decrease the net profit

C. Increase the assets

D. Have no erect on the net profit

Question 13 of 30

14.

Suspense Account is a :

A. Nominal A/c

B. Real A/c

C. Personal A/c

D. Any of the above

Question 14 of 30

15.

A trial balance will not balance if

A. A correct entry is posted twice

B. Rs. 5,000 received from Harish is posted in the credit side of Hari

C. Sales on credit basis is credited to sales account and debited in cash account.

D. Goods of Rs. 2,500 returned to Ram is added into the purchases

Question 15 of 30

16.

Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150. The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:

A. Rs. 1,600

B. Rs. 1,450

C. Rs. 1,850

D. Rs. 1,650

Question 16 of 30

17.

On purchase of old furniture, the amount of Rs. 1,000 spent on its repair should be debited to

A. Repair account;

B. Furniture account;

C. Cash account;

D. Bank account.

Question 17 of 30

18.

Goods worth Rs. 750 were purchased from S & Co. but while posting wrong debut was given to R & Co. The total of credit side of the trial balance was Rs. 43,750. Assuming that this is the only error, the total of the debit side of the trial balance was:

A. Rs. 43,750

B. Rs. 44,550

C. Rs. 43,000

D. Rs. 45,250

Question 18 of 30

19.

Sales of office furniture should be credited to

A. Sales account

B. Furniture account

C. Purchase account

D. Cash account

Question 19 of 30

20.

If a purchase return of Rs. 1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of the

A. Trial balance would show the debit side to be Rs. 1,000 more than the credit

B. Trial balance would show the credit side to be Rs. 1,000 more than the debit.

C. The debit side of the trial balance will be Rs. 2,000 more than the credit side

D. The credit side of the trial balance will be Rs. 2,000 more than the debit side.

Question 20 of 30

21.

A debit balance in the depositor’s Cash Book will be shown as:

A. A debit balance in the Bank Statement.

B. A credit balance in the Bank Statement.

C. An overdrawn balance in the Bank Statement.

D. None of the above.

Question 21 of 30

22.

7 If a purchase return of Rs. 84 has been wrongly posted to the debit of the sales return account, but had been correctly entered in the suppliers account, the total of the trial balance would show:

A. The credit side to be Rs. 84 more than debit side.

B. The debit side to be Rs. 84 more than credit side.

C. The credit side to be Rs. 168 more than debit side.

D. The debit side to be Rs. 168 more than credit side.

Question 22 of 30

23.

When balance as per Cash Book is the starting point, interest charged by Bank is:

A. Added in the bank reconciliation statement

B. Subtracted in the bank reconciliation statement

C. Not required to be adjusted in the bank reconciliation statement

D. Neither of the above.

Question 23 of 30

24.

The cash book showed an overdraft of Rs. 1,500 as cash at bank, but the pass book made up to the same date showed that cheques of Rs. 100, Rs. 50 and Rs. 125 respectively had not been presented for payments; and the cheque of Rs. 400 paid into account had not been cleared. The balance as per the pass book will be

A. Rs. 1,100

B. Rs. 2,175

C. Rs. 1,625

D. Rs. 1,375

Question 24 of 30

25.

A Bank Reconciliation Statement is prepared by

A. The Bank

B. The Government

C. The Bank Account holder

D. The user of financial statements

Question 25 of 30

26.

Goods purchased of Rs. 100 from N was not recorded at all. What will be its effect on the trial Balance?

A. Will tally

B. Will not tally

C. Will have no affect

D. None of these.

Question 26 of 30

27.

Goods worth Rs. 100 taken by proprietor for domestic use should be credited to

A. Sales account

B. Proprietor’s personal expenses

C. Purchases account

D. Expenses account

Question 27 of 30

28.

While preparing bank reconciliation statement with favourable balance as per cash book which of the following will not be added?

A. Cheques deposited but not cleared

B. Cheques issued but not presented to bank

C. Cheques directly deposited in bank by a customer.

D. Overcasting of Cr. side of the bank account in cash book.

Question 28 of 30

29.

Payment done by the account holder through issuing a cheque is entered in

A. The pass-book at the time of issuing the cheque

B. The cash-book at the time of presenting the cheque to the bank for payment

C. The pass-book at the time of presenting the cheque to the bank for payment

D. The cash-book when informed by the third party

Question 29 of 30

30.

An amount of Rs. 5,000 debited twice in pass book to prepare Bank Reconciliation Statement, when overdraft as per the cash book in the starting point:

A. Rs. 5,000 will be deducted

B. Rs. 5,000 will be added

C. Rs. 10,000 will be deducted

D. Rs. 10,000 will be added

Question 30 of 30

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