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11th Standard Accounts Rectification of Errors English Medium Free Online Test One Mark Questions with Answer Key 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. 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

  3. 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

  4. The failure of the accountant to record a transaction in the books of accounts is known as ________________

    (a)

    error of omission

    (b)

    error of complete omission

    (c)

    error of partial omission

    (d)

    errors of principle

  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. Errors which affect one side of an account are called.

    (a)

    Single sided errors

    (b)

    Double sided errors

    (c)

    Both

    (d)

    None of the above

  8. Wages paid to workers for the installation of a new machinery should be debited to :

    (a)

    Wages account

    (b)

    Factory expenses account

    (c)

    Machinery account

    (d)

    Proprietor's account

  9. Goods taken by the Proprietor for domestic use should be credited to ______________

    (a)

    Proprietor's drawings account

    (b)

    Sales account

    (c)

    Purchases account

    (d)

    Suspense account

  10. 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

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TN 11th Standard Accountancy free Online practice tests

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