| 1 |
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
|
| 2 |
Errors is casting of subsidiary books are called as |
- A. Error of omission
- B. Compensating error
- C. Error of posting
- D. Clerical errors
|
| 3 |
Errors of affect one account can be |
- A. Errors of principle
- B. Errors of posting
- C. Errors of omission
- D. None of these
|
| 4 |
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
|
| 5 |
If any expense omitted to be recorded it will |
- A. Overstate the profit
- B. Understate the profit
- C. Both a & b
- D. No effect on profit
|
| 6 |
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
|
| 7 |
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
|
| 8 |
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
|
| 9 |
If a liability is recorded as income, it will be considered as |
- A. Error of commission
- B. Error of omission
- C. Error of Principle
- D. None of these
|
| 10 |
Errors of omission affects |
- A. One account
- B. Two account
- C. Three account
- D. None of these
|