CBSE Class 11 Accountancy Rectification Of Errors MCQs Set 04

Question: Sale of office furniture is credited to
a) Sales Account
b) Office Furniture Account
c) Cash Account
d) None of the options
Answer: b

Question: Purchased goods from Gopal for Rs.3,600 but was recorded as Rs.6,300 to the debit of Gopal. In the rectifying entry, Gopal’s A/c will be credited with:
a) 9,900
b) 2,700
c) 3,600
d) 6,300
Answer: a

Question: Suspense Account is opened when:
a) Balance Sheet does not match
b) Trial Balance does not match
c) Total of Sales Account does not agree
d) None of the options
Answer: b

Question: Rectification of which of these errors will require opening of suspense A/c
a) Purchase of office equipment Rs. 5,000 entered in purchase day book
b) Rs. 4,900 paid to Shyam entered in Shivam A/c
c) Total of sales day book over cast by Rs. 5,000
d) Rs. 1,000 incurred on freight and insurance of office furniture accounted forth freight and insurance A/c
Answer: c 

Question: Rectification of which of these errors will affect profit and loss A/c
a) Purchase of office equipment Rs. 6,000 entered in purchase day book
b) Rs. 501 received from Sudhir posted to Randhir A/c
c) Total of cash book under cast by Rs. 50
d) Rs. 1,200 incurred on freight and insurance of raw material accounted for in salary and wages A/c
Answer: d

Question: Credit balance in which of these a/c indicate error in the A/c
a) Cash in hand A/c
b) Sales A/c
c) Capital A/c
d) Bank A/c
Answer: a

Question: What is an Error of Commission?
a) When the effect of errors committed cancel out each other
b) When the transaction recorded is in contravention with the general accounting policies
c) When the amount is written on the wrong side or posted in the wrong account or casting errors etc.
d) When a transaction is partially or completely omitted
Answer: c

Question: Which of the following errors will not affect the trial balance?
a) Wrong balancing of an account
b) Writing an amount in the wrong account but on the correct side
c) Wrong totalling of an account
d) Writing wrong account balance in the trial balance
Answer: b

Question: Purchase of office computer was recorded in the purchase day book on rectification
a) Cr Purchase A/c
b) Dr. Office Computer A/c
c) Both Cr Purchase A/c and Dr. Office Computer A/c
d) None of the options
Answer: c

Question: Which of these are added to get balance as per pass book if we start with balance as per cash book
a) Cheque deposited with the bank
b) Cheque issued but not presented for payment
c) Intrest charged by bank on overdrafts
d) Direct payment made by the bank as per standing instructions
Answer: b

Question: While auditing the A/c for the year 08-09 and 07-08, it was noticed that sales for the year 07-08 was understand by Rs.11,000. While rectification of this mistake in 08-09, which A/c will be credited.....
a) Profit and loss adjustment A/c
b) Profit and loss appropriation A/c
c) Sales A/c
d) Suspense A/c
Answer: a

Question: Which types of errors will effect net profit?
a) Affecting nominal accounts
b) Affecting personal accounts
c) Affecting real accounts
d) None of the options
Answer: a

Question: Debit balance in which of these a/c indicate error in the A/c ___________.
a) Cash in hand A/c
b) Sales A/c
c) Drawing A/c
d) Bank A/c
Answer: b

Question: Which types of errors will effect net profit
a) Affecting nominal accounts
b) Affecting personal accounts
c) Affecting real accounts
d) None of the options
Answer: a

Question: An agreement of the trial balance does not prove that __________________.
a) all transactions have been correctly analyzed and recorded in the proper accounts
b) all transactions have been recorded in the books of original entry
c) both all transactions have been correctly analyzed and recorded in the proper accounts & all transactions have been recorded in the books of original entry
d) None of the options
Answer: c

Question: Balance appearing on the credit side of the trial balance is _________.
a) a gain
b) a revenue
c) a liability
d) all of the options
Answer: d

Question: Repairs to Machinery had been charged to Machinery A/c.
a) Errors of Omission
b) Errors of Commission
c) Errors of Principle
d) None of the options
Answer: c

Question: Which of the following statement is false?
a) All rectification entries are passed through Journal Proper
b) A suspense account is created when the total of a trial balance do not agree
c) The trial balance is a prima facie evidence of the accuracy of the book-keeping
d) Trial balance can agree despite errors
Answer: c

Question: Which of the following is the objective of trial balance?
a) To ascertain the geometrical accuracy of the ledger accounts.
b) To help in locating errors.
c) To help in the preparation of the accounting report.
d) None of the options
Answer: a

Question: _________ are the errors committed by persons responsible for recording and maintaining accounts of a business firm in the course of accounting process.
a) Marketing error
b) Accounting errors
c) Planning error
d) All of the options
Answer: b