[{"id":99371,"question":"When two or more than two error occurred on the opposite side of the account and cancelled the affect of each are called","choices":[{"text":"Errors of omission","value":"A"},{"text":"Compensating errors","value":"B"},{"text":"Errors of commission","value":"C"},{"text":"Errors of principle","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99370,"question":"Trade expenses of Rs. 180 posted in the ledger as Rs. 810, it will be considered as","choices":[{"text":"Error of principle","value":"A"},{"text":"Error of omission","value":"B"},{"text":"Error of casting","value":"C"},{"text":"Error of transposition","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99369,"question":"If goods purchased from Rahim for Rs. 499, credited to Rehman's account for Rs. 499. this is an","choices":[{"text":"Error of commission ","value":"A"},{"text":"Error of principle","value":"B"},{"text":"Compensating error","value":"C"},{"text":"Error of principle","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":99368,"question":"If a transaction has been completely omitted from the Journal it will be considered","choices":[{"text":"Error of commission","value":"A"},{"text":"Error of principle","value":"B"},{"text":"Error of omission","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99367,"question":"Error of principle arises when","choices":[{"text":"Any transaction is incorrectly recorded, either wholly or partially","value":"A"},{"text":"Any transaction is left wholly or partially","value":"B"},{"text":"Any transaction is affects one account","value":"C"},{"text":"Any transaction is recorded in fundamentally incorrect manner","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99366,"question":"Errors of affect one account can be","choices":[{"text":"Errors of principle","value":"A"},{"text":"Errors of posting","value":"B"},{"text":"Errors of omission","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99365,"question":"Preliminary expenses paid in the formation of a company is a","choices":[{"text":"Capital expenditure","value":"A"},{"text":"Deferred expenditure","value":"B"},{"text":"Revenue expenditure","value":"C"},{"text":"Capital loss","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99364,"question":"Capitalized expenditure are shown in","choices":[{"text":"Trading a/c","value":"A"},{"text":"Profit or loss a/c","value":"B"},{"text":"Income statement","value":"C"},{"text":"Balance sheet","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99363,"question":"Distinction between capital and revenue items is important for the preparation","choices":[{"text":"Balance sheet","value":"A"},{"text":"Trading and profit or loss a/c","value":"B"},{"text":"Bank reconciliation statement","value":"C"},{"text":"Both a & b ","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99362,"question":"Heavy expenditure on advertisement for making a new product is a","choices":[{"text":"Revenue expenditure","value":"A"},{"text":"Deferred expenditure","value":"B"},{"text":"Capital loss","value":"C"},{"text":"Non-recurring expenditure","value":"D"},{"value":"E"}],"correctAnswer":2}]