Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Error of principle involves an incorrect allocation of expenditure or receipt between.	Capital and revenue Capital and capitalized Revenue and deferred revenue Revenue and revenue
2	A receipt is revenue in nature, if it relates to:	Balance sheet The receipt of accounting year Small amount Routine activity of the business
3	Receipts which are non-recurring by nature:	Capital receipts Revenue receipts Short term receipts Capital profit
4	Goods purchased from Robin have been posted to Rahim account, it is an:	Error of omission Error of casting Error of posting Error of commission
5	A transaction has been journalized but posted wrongly in the ledger account, it is an:	Error of positing Error of principle Error of omission Error of commission

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