11th class Principles of Accounting chapter 14 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 14(Rectification of Errors)

This online test contains MCQs about following topics:

. Errors causing disagreement of trail balance . Errors not causing disagreement of trail balance . What to do when the trail balance does not agree? . Agreement of trail balance by opening suspense account . How the errors are rectified? . Correction of one sided errors if detected before preparation of the trail balance . Correction of two-sided errors after preparation of the trail balance but before the preparatin of the final accounts . Effect of errors on the final accoutns or the financial statements

ICOM Part 1 Accounting Ch 14 Test

Start Accounting Ch 14 Test

ICOM Part 1 English Medium Subjects

Principles of Accounting

Principles of Economics

Principles of Commerce

ICOM Part 1 Urdu Medium Subjects

Principles of Commerce

Principles of Economics

Principles of Accounting

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Haroon Abdullah 13 - Jul - 2022 00 Min 11 Sec 7/15

Sr.#	Question	Answer
1	Error of carry forward will affect	A. Personal accounts B. Nominal accounts C. Impersonal accounts D. None of these
2	If there is any error in Bank account it will affect	A. Trading and profit and loss account B. Profit and loss account C. Trading account D. Balance sheet
3	The credit purchases were wrongly recorded in sales book, the rectification of entry	A. Increase the net profit by double amount B. Decrease the net profit by double amount C. Decrease the net profit D. Increase the net profit
4	Errors is casting of subsidiary books are called as	A. Error of omission B. Compensating error C. Error of posting D. Clerical errors
5	If goods purchased from Rahim for Rs. 499, credited to Rehman's account for Rs. 499. this is an	A. Error of commission B. Error of principle C. Compensating error D. Error of principle
6	If amount for Rs. 554 recovered from Ali, previously written off as bad debts we should	A. Debited to bad debts recovered account B. Credited to Ali account C. Debited to bad debts account D. Credited to bad debts recovered account
7	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
8	A sale of Rs. 1000 to Farid, was credited to his account, it will affect	A. Sales account B. Farid account C. Cash account D. Both a & b
9	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
10	When two or more than two error occurred on the opposite side of the account and cancelled the affect of each are called	A. Errors of omission B. Compensating errors C. Errors of commission D. Errors of principle

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First Year Principles of Accounting Chapter 14 Online MCQ Test for 1st Year Principles of Accounting Chapter 14 (Rectification of Errors)

ICOM Part 1 English Medium Subjects

ICOM Part 1 Urdu Medium Subjects

MCQ's Test For Chapter 14 "Principles of accounting Icom Part 1 English Medium Chapter 14 Online Test"

Principles of accounting Icom Part 1 English Medium Chapter 14 Online Test

If goods purchased from Rahim for Rs. 499, credited to Rehman's account for Rs. 499. this is an

If there is any error in Bank account it will affect

When two or more than two error occurred on the opposite side of the account and cancelled the affect of each are called

If any expense omitted to be recorded it will

A sale of Rs. 1000 to Farid, was credited to his account, it will affect

Errors of omission affects

If any income omitted to be recorded it will

Wages paid for the erection of machine debited to wages account is an example of

Trade expenses of Rs. 180 posted in the ledger as Rs. 810, it will be considered as

The process of totaling the data at the end of the period is called

Error of carry forward will affect

Error of principle arises when

If amount for Rs. 554 recovered from Ali, previously written off as bad debts we should

.If the error committed in the capital account, it will affect

Errors is casting of subsidiary books are called as

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11th Principles of Accounting Chapter 14 Test

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