1 |
Wages paid for the erection of machine debited to wages account is an example of |
- A. Error of omission
- B. Error of commission
- C. Error of principle
- D. None of these
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2 |
.If the error committed in the capital account, it will affect |
- A. Trading account
- B. Profit and loss account
- C. Trading and profit and loss account
- D. Balance sheet
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3 |
Error of principle arises when |
- A. Any transaction is incorrectly recorded, either wholly or partially
- B. Any transaction is left wholly or partially
- C. Any transaction is affects one account
- D. Any transaction is recorded in fundamentally incorrect manner
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4 |
Transportation cost paid for the purchases of Machinery must be debited to |
- A. Transportation cost account
- B. Purchases account
- C. Machinery account
- D. Cash account
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5 |
If a transaction has been completely omitted from the Journal it will be considered |
- A. Error of commission
- B. Error of principle
- C. Error of omission
- D. None of these
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6 |
Errors, which do not affect on profit calculation, will have an effect only on |
- A. Trail balance
- B. Balance sheet
- C. Profit or loss account
- D. Trading account
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7 |
Trade expenses of Rs. 180 posted in the ledger as Rs. 810, it will be considered as |
- A. Error of principle
- B. Error of omission
- C. Error of casting
- D. Error of transposition
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8 |
If the balance of suspense account is credit then it will be shown in balance sheet on |
- A. Asset side
- B. Asset and liability side
- C. Asset and capital side
- D. Capital and liability side
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9 |
Error of carry forward will affect |
- A. Personal accounts
- B. Nominal accounts
- C. Impersonal accounts
- D. None of these
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10 |
Errors is casting of subsidiary books are called as |
- A. Error of omission
- B. Compensating error
- C. Error of posting
- D. Clerical errors
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