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11th Standard Accounts Rectification of Errors English Medium Free Online Test One Mark Questions 2020 - 2021

11th Standard

    Reg.No. :
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Accountancy

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Errors not affecting the agreement of trial balance are

    (a)

    Errors of principle

    (b)

    Errors of overcasting

    (c)

    Errors of undercasting

    (d)

    Errors of partial omission

  2. Which of the following errors will not affect the trial balance?

    (a)

    Wrong balancing of an account

    (b)

    Posting an amount in the wrong account but on the correct side

    (c)

    Wrong totalling of an account

    (d)

    Carried forward wrong amount in a ledger account

  3. A credit purchase of furniture from Athiyaman was debited to purchases account. Which of the following accounts should be debited while rectifying this error?

    (a)

    Purchases account

    (b)

    Athiyaman account

    (c)

    Furniture account

    (d)

    None of these

  4. Which of the following errors will be rectified using suspense account?

    (a)

    Purchases returns book was undercast by Rs.100

    (b)

    Goods returned by Narendran was not recorded in the books

    (c)

    Goods returned by Akila 900 was recorded in the sales returns book as Rs.90

    (d)

    A credit sale of goods to Ravivarman was not entered in the sales book

  5. _______________ usually occurs due to lack of concentration or carelessness of the accountant.

    (a)

    Error of omission

    (b)

    Error of principle

    (c)

    Error of commission

    (d)

    None of the above

  6. ________________ account will remain in the books until the location and rectification of errors.

    (a)

    Suspense

    (b)

    Ledger

    (c)

    Journal

    (d)

    None of these

  7. Suspense account balance will be shown in the _____________

    (a)

    Trading account

    (b)

    Profit and loss account

    (c)

    Balance sheet

    (d)

    Final account

  8. Goods of Rs. 5000 purchased from Mr.B were recorded in sales book, the rectification of this error will________.

    (a)

    Increase the gross profit

    (b)

    Reduce the gross profit

    (c)

    Have no effect on gross profit

    (d)

    None of the above

  9. Good worth rs. 50 given as charity should be credited to ________.

    (a)

    charity Account

    (b)

    Sales Account

    (c)

    Purchase Account

    (d)

    None of the above

  10. ________ are those transactions which are not recorded as per the rules of debit and credit. 

    (a)

    Error of principle

    (b)

    Error of Commission

    (c)

    Error of Omission

    (d)

    Compensating errors

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TN 11th Standard Accountancy free Online practice tests

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