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Test: Rectification Of Errors - 1


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30 Questions MCQ Test Crash Course of Accountancy - Class 11 | Test: Rectification Of Errors - 1

Test: Rectification Of Errors - 1 for Commerce 2022 is part of Crash Course of Accountancy - Class 11 preparation. The Test: Rectification Of Errors - 1 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Rectification Of Errors - 1 MCQs are made for Commerce 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Rectification Of Errors - 1 below.
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Test: Rectification Of Errors - 1 - Question 1

A Machine was Purchased for Rs. 3,000 which was wrongly recorded in Purchase A/c. due to this error : 

Detailed Solution for Test: Rectification Of Errors - 1 - Question 1

Puchase of machinery is debited to machinery a/c but they debited it to purchase a/c in either of case in trial balance the machinery which is purchased itz amount will be debited only so there will be no difference in credit and debit side of trial balance. This error will just affect individual ledger

Test: Rectification Of Errors - 1 - Question 2

 Sale to Mr. Z of Rs. 3,000 on credit was recorded twice in the sales book. The rectification entry is :

Test: Rectification Of Errors - 1 - Question 3

 ‘A’ sold goods to ‘B’ on credit for Rs. 15,000 but debited to ‘C’ instead of ‘B’. The entry would affect:

Test: Rectification Of Errors - 1 - Question 4

When the total of trial balance is not reconciled, the account opened at this juncture is : 

Test: Rectification Of Errors - 1 - Question 5

 Total of sales book was understated by Rs. 200. Rectification entry will be:

Test: Rectification Of Errors - 1 - Question 6

The goods sold for Rs. 900 but the amount was entered in the sales Account as Rs. 1080. On Rectification, suspense account will be:

Test: Rectification Of Errors - 1 - Question 7

 An amount of Rs. 6,000 due from Anshul, which had been written off as a bad debt in a previous year, was unexpectedly recovered and had been posted to his personal account. The rectification entry is : 

Test: Rectification Of Errors - 1 - Question 8

Sale of old furniture is wrongly transferred to Sales Account. Which type of error is this ?

Test: Rectification Of Errors - 1 - Question 9

Wages paid for the erection of a machine debited to Wages A/c is an example of :

Test: Rectification Of Errors - 1 - Question 10

A purchase of computer was debited to Office Expenditure Account. This is an error of : 

Test: Rectification Of Errors - 1 - Question 11

Credit sale of Rs. 10,000 made to Sallu was passed through purchase book. The proper entry for rectification was the following :

Test: Rectification Of Errors - 1 - Question 12

 The beginning stock of the current year is overstated by Rs. 500 and closing stock is overstated by Rs. 1200. Effect on profit: 

Test: Rectification Of Errors - 1 - Question 13

 An amount of Rs. 8,765 paid to M was debited to N’s a/c. The rectification of the error will-

Test: Rectification Of Errors - 1 - Question 14

Suspense Account is a : 

Test: Rectification Of Errors - 1 - Question 15

A trial balance will not balance if 

Test: Rectification Of Errors - 1 - Question 16

Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150. The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:

Test: Rectification Of Errors - 1 - Question 17

 On purchase of old furniture, the amount of Rs. 1,000 spent on its repair should be debited to 

Test: Rectification Of Errors - 1 - Question 18

Goods worth Rs. 750 were purchased from S & Co. but while posting wrong debut was given to R & Co. The total of credit side of the trial balance was Rs. 43,750. Assuming that this is the only error, the total of the debit side of the trial balance was:

Test: Rectification Of Errors - 1 - Question 19

 Sales of office furniture should be credited to 

Test: Rectification Of Errors - 1 - Question 20

If a purchase return of Rs. 1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of the

Test: Rectification Of Errors - 1 - Question 21

 A debit balance in the depositor’s Cash Book will be shown as:

Test: Rectification Of Errors - 1 - Question 22

7 If a purchase return of Rs. 84 has been wrongly posted to the debit of the sales return account, but had been correctly entered in the suppliers account, the total of the trial balance would show:

Test: Rectification Of Errors - 1 - Question 23

 The cash book showed an overdraft of Rs. 1,500 as cash at bank, but the pass book made up to the same date showed that cheques of Rs. 100, Rs. 50 and Rs. 125 respectively had not been presented for payments; and the cheque of Rs. 400 paid into account had not been cleared. The balance as per the pass book will be

Detailed Solution for Test: Rectification Of Errors - 1 - Question 23

A bank reconciliation statement

Test: Rectification Of Errors - 1 - Question 24

 A Bank Reconciliation Statement is prepared by 

Test: Rectification Of Errors - 1 - Question 25

Goods purchased of Rs. 100 from N was not recorded at all. What will be its effect on the trial Balance?

Test: Rectification Of Errors - 1 - Question 26

 Goods worth Rs. 100 taken by proprietor for domestic use should be credited to 

Test: Rectification Of Errors - 1 - Question 27

While preparing bank reconciliation statement with favourable balance as per cash book which of the following will not be added?

Test: Rectification Of Errors - 1 - Question 28

Payment done by the account holder through issuing a cheque is entered in 

Test: Rectification Of Errors - 1 - Question 29

Of the two sides of Trial balance does not tally, which Account is opened –

Detailed Solution for Test: Rectification Of Errors - 1 - Question 29

If the trial balance do not agree and errors not located before the finalization of accounts, the difference amount has to be transferred to suspense account

Test: Rectification Of Errors - 1 - Question 30

 An amount of Rs. 5,000 debited twice in pass book to prepare Bank Reconciliation Statement, when overdraft as per the cash book in the starting point:

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