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11th Standard English Medium Accountancy Subject Rectification of Errors Book Back 1 Mark Questions with Solution Part - I

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 5

    Part I

    5 x 1 = 5
  1. Error of principle arises when _______.

    (a)

    There is complete omission of a transaction

    (b)

    There is partial omission of a transaction

    (c)

    Distinction is not made between capital and revenue items

    (d)

    There are wrong postings and wrong castings

  2. The difference in trial balance is taken to _______.

    (a)

    The capital account

    (b)

    The trading account

    (c)

    The suspense account

    (d)

    The profit and loss account

  3. Wages paid for installation of machinery wrongly debited to wages account is an error of _______.

    (a)

    Partial omission

    (b)

    Principle

    (c)

    Complete omission

    (d)

    Duplication

  4. Goods returned by Senguttuvan were taken into stock, but no entry was passed in the books. While rectifying this error, which of the following accounts should be debited?

    (a)

    Senguttuvan account

    (b)

    Sales returns account

    (c)

    Returns outward account

    (d)

    Purchases returns account

  5. The total of purchases book was overcast. Which of the following accounts should be debited in the rectifying journal entry?

    (a)

    Purchases account

    (b)

    Suspense account

    (c)

    Creditor account

    (d)

    None of the above

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