First Year Principles of Accounting Chapter 14 Online MCQ Test for 1st Year 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
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Online MCQ's Test For Chapter 14 "Principles of accounting Icom Part 1 English Medium Chapter 14 Online Test"

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

  • Total Questions15

  • Time Allowed20

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

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Question # 1

Errors of omission affects

Question # 2

If a liability is recorded as income, it will be considered as

Question # 3

Error of carry forward will affect

Question # 4

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

Question # 5

If any expense omitted to be recorded it will

Question # 6

The credit purchases were wrongly recorded in sales book, the rectification of entry

Question # 7

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

Question # 8

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

Question # 9

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

Question # 10

If the balance of suspense account is credit then it will be shown in balance sheet on

Question # 11

Transportation cost paid for the purchases of Machinery must be debited to

Question # 12

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

Question # 13

Errors of affect one account can be

Question # 14

Error of principle arises when

Question # 15

Any difference in trail balance, is transferred to

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