CBSE Class 11 Accountancy Rectification Of Errors MCQs Set 06

Question: Trial balance is:
a) an account
b) a statement
c) a subsidiary book
d) a principal book
Answer: b

Question: Which of the following is not an error of principle?
a) Purchase of furniture debited to purchases account
b) Repairs on the overhauling of second hand machinery purchased debited to repairs account
c) Cash received from Manoj posted to Saroj
d) Sale of old car credited to sales account
Answer: c

Question: If suspense account does not balance off even after rectification of errors it implies that:
a) there are some one sided errors only in the books yet to be located
b) there are no more errors yet to be located
c) there are some two sided errors only yet to be located
d) there may be both one sided errors and two sided errors yet to be located
Answer: a

Question: Which of the following errors will be rectified through suspense account?
a) Sales return book undercast by Rs. 1,000
b) Sales return by Madhu Rs. 1,000 not recorded
c) Sales return by Madhu Rs. 1,000 recorded as Rs. 100
d) Sales return by Madhu Rs. 1,000 recorded through purchases return book
Answer: a

Question: Rent paid for Rs. 5,000 was posted as 5,200 and carriage outwards paid for Rs.8,000 was posted as 7,800. Identify the type of error.
a) Error of commission
b) Error of omission
c) Compensating errors
d) Error of principle
Answer: c

Question: Outstanding interest Rs.1,000; prepaid rent Rs. 1,000 ; debtors Rs.2,000; creditors Rs.2,000 ; building Rs.20,000. The amount of capital is ___________.
a) 30,000
b) 10,000
c) 20,000
d) 15,000
Answer: c

Question: Closing stock is not accounted in the trial balance because_______
a) It has not been brought into account
b) It has been brought into account
c) None of the options
Answer: a

Question: Rs.2,000 received as commission correctly entered in the cash book is not posted to commission account. The ______side of trial balance will _______.
a) Debit, exceed
b) Credit, exceed
c) Debit, decrease
d) Credit, decrease
Answer: a

Question: A dealer dealing in furniture business purchased furniture, recorded in furniture account.
a) There is an error in the above transaction, but trial balance will agree.
b) There is not any error in the above transaction, trial balance will not agree.
c) There is an error and trial balance will not agree.
Answer: a

Question: Error of principle is
a) Credit purchase of machinery is recorded in purchase book
b) Credit purchase of machinery is recorded in journal proper
c) Credit purchase of goods recorded in purchase book
d) None of the options
Answer: a

Question: Wages paid for the construction of building were recorded in wages account. This is ______________
a) Error of omission
b) Error of commission
c) Compensating error
d) Error of principle
Answer: d

Question: Error of principle arises when
a) Any transaction is recorded in a fundamentally incorrect manner
b) Any transaction is left to be recorded either wholly or Partially
c) Any transaction recorded with double amount
d) None of the options
Answer: a

Question: Error of commission arises when
a) Any transaction is recorded in a fundamentally incorrect manner.
b) Any transaction is incorrectly recorded; either wholly or partially
c) Any transaction is omitted to be recorded
d) Wrong rule is applied.
Answer: b

Question: The error which is revealed by the trial balance is ______________.
a) Wrong amount posted in the ledger account
b) Wrong amount entered into the books of original entry
c) Complete omission
d) None of the options
Answer: a

Question: Errors of carry forward from one year to another year affected
a) Personal Account
b) Real Account
c) Nominal Account
d) Both Personal &Real A/c
Answer: d

Question: Wrong totaling of account is
a) Error of Principle
b) Error of omission
c) Error of Commission
d) Compensating Error
Answer: c

Question: Writing an amount in the wrong account but on the correct side will __________ the trial balance.
a) Will affect
b) Will not affect
c) None of the options
Answer: b

Question: The preparation of a Trial balance is for:
a) Locating errors of omission
b) Locating errors of principle
c) Locating clerical errors
d) All of the options
Answer: d

Question: Balancing of Trial balance ensures the accuracy of books of accounts.
a) Yes
b) No
c) None of the options
Answer: b

Question: While calculating cost of goods sold _____________should be added.
a) Wages
b) Salaries
c) Carriage outwards
d) None of the options
Answer: a

Fill In The Blanks.

Question: ……………………account will Debit in rectify entry if bad debts Rs 2000 were not entered in the books.
Answer: bad debts 2000

Question: Furniture A/c shows an opening balance of Rs.5,00,000. Furniture with a book value of Rs.10,000 was sold during the year. New furniture was purchased for Rs.40,000. Depreciation provided Rs.5000. The closing balance of Furniture A/c is Rs. ……………..
Answer: 5,25,000

Question: Total of the debit side of trial balance is Rs. 35,000 and credit total is Rs.45,000. – – – – A/c will be opened with Rs.– – – –.
Answer: Suspense, 10.000

Question: Suspense account appeared in the trial balance shown ……………… side error.
Answer: Single

Question: Rent paid correctly posted in rent account but not recorded in cash account is an example of ……………side error.
Answer: partial omission

Question: Sale of Rs. 10,000 to Raman was recorded in purchase book while Suspense account will be debited by …….amount.
Answer: Rs 20,000

Question: Cash sale Rs 16000 were posted to sales account as Rs. 6000. In rectification entry sale account will credit by Rs…………….
Answer: 10000

Question: If we have not posted an individual account in related ledger account is a …………………..error.
Answer: partial omission

Question: Rs. 5000 paid as a rent to Gopal the owner of shop was debited to Gopal’s personal account so difference arise in trial balance. This statement is ………………
Answer: not correct

Question: Sales return book over cast by Rs. 1000. For rectify this mistake sale return account will…………….. by Rs…………………..
Answer: credit , Rs. 1000

Question: An item is posted to the wrong side of an account. The error will be of _______ the amount.
Answer: double

Question: If an accounting error has increased the profit, for correction, profit and loss account, will be ___________.
Answer: debited

Question: Undercasting in wages account is rectified by _______ suspense account and wages account.
Answer: crediting, debiting

Question: If the Trial Balance does not ______ it indicates that some ________ have been committed.
Answer: tally, errors

Question: The last step of preparing Trial Balance is to ascertain the _________ of its two amount columns.
Answer: sum

True/False.

Question: A draft for Rs.1000 received from Vikash was dishonoured and had been posted to the debit of sales return account. The rectification entry is ‘vikash’s a/c debit and credit sales return a/c by Rs.1000.
Answer: True

Question: A Trial Balance can be prepared only by one method.
Answer: False

Question: Output CGST A/c has a balance of Rs.4,000. It will be shown in the debit balances in the trial balance.
Answer: False

Question: A Trial Balance is an account which shows the balances of all ledger accounts.
Answer: False

Question: A Trial Balance is a list of balances of ledger accounts & cash book.
Answer: True

Question: Following balances are given to you on 1st April,2019:
Stock A/c Rs.50,000; Building A/c Rs.80,000;Machinery A/c Rs.60,000;Creditors Rs.90,000.
Balance of capital A/c will be Rs.1,10,000.
Answer: False

Question: A Sale of old machine on credit to Mr.Chirag for Rs.90,000 on 30th September 2018 was not entered in the books at all. The book value of the machine was Rs.67,500. In rectification entry machine account credited by Rs.67500.
Answer: True

Question: If the total of debit side of trial balance is short, SUSPENSE ACCOUNT will shown credit balance.
Answer: False

Question: Goods cost Rs.10,000; market valueRs.12,000 distributed as charity were not recorded anywhere. The rectification entry is
Charity A/c Dr. 1000
To Purchase A/c 1000
Answer: True

Question: Old plant sold to Mr. Happy at its book value of Rs.5,000 was recorded in sales book. The rectification enry is :
Sales A/c Dr.
To Machinery A/c
Answer: True

Match The Following

Question:

1.Closing stock will not figure in the trial balance because                               a. It has not yet been brought into account
2. if the debit side of Trial balance of exceeds the credit side ,the                    b. It has been brought into account
   difference will be put on 
                                                                                                                          c. credit side of suspense account
                                                                                                                          d. debit side of trial balance
Answer: 1-a,2- c

Question:
1. Double – sided Errors                  a. Credit sale to amit Rs 7,000 were recorded as Rs 7,200
2. Single – Sided errors                   b. Credit sales to Arun Rs 7,000 was posted to credit side of Arun account
Answer: 1-a,2- b

Question:
1. Purchased goods form Gopal Rs 3,600 was posted to the debit of                a. 3,600
    Gopal Rs 6,300.what amount will be credited to gopal . 
2. Purchased goods form Gopal Rs 3,600 was posted to the credit of               b. 9,900
    Gopal Rs 6,300.what amount will be Debited to gopal . 
                                                                                                                            c. 2,700
                                                                                                                            d. 6,300
Answer: 1-b ,2- c

Question:
1. Amount payable to ram for Repairs done to furniture Rs 1,500 and                       a. 10,000
    furniture supplied Rs 9,500 were recorded in purchase book as 10,000.
    In this to rectify Ram account will be credited with amount :
2. Amount payable to ram for Repairs done to furniture Rs 1,500 and                       b.9,500
    furniture supplied Rs 9,500 were recorded in purchase book. In this to
    rectify Purchase account will be credited with amount :
                                                                                                                                     c. 1,000
                                                                                                                                     d.1,500
Answer: 1-c,2- a

Question:
1. A sum of Rs 375 owed by Ravi has been included in the list of Sundry              a. Overcast
   creditors .Then the Total amount of sundry debtors Is : 
2. A sum of Rs 375 owed by Ravi has been included in the list of Sundry              b. Under cast
   creditors .Then the Total amount of sundry Creditors Is : 
                                                                                                                                 c. Correctly cast
Answer: 1-b ,2- a