Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	If any income omitted to be recorded it will	Overstate the profit Understate the profit Both a & b having no effect on profit
2	If any expense omitted to be recorded it will	Overstate the profit Understate the profit Both a & b No effect on profit
3	If there is any error in Bank account it will affect	Trading and profit and loss account Profit and loss account Trading account Balance sheet
4	The credit purchases were wrongly recorded in sales book, the rectification of entry	Increase the net profit by double amount Decrease the net profit by double amount Decrease the net profit Increase the net profit
5	Error of carry forward will affect	Personal accounts Nominal accounts Impersonal accounts None of these

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