Test: Rectification Of Errors - 4


14 Questions MCQ Test Principles and Practice of Accounting | Test: Rectification Of Errors - 4


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This mock test of Test: Rectification Of Errors - 4 for CA Foundation helps you for every CA Foundation entrance exam. This contains 14 Multiple Choice Questions for CA Foundation Test: Rectification Of Errors - 4 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Rectification Of Errors - 4 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Rectification Of Errors - 4 exercise for a better result in the exam. You can find other Test: Rectification Of Errors - 4 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.
QUESTION: 1

Goods purchased from A for Rs. 10,000 passed through the sales book. The error will result in

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QUESTION: 2

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

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QUESTION: 3

If the amount is posted in the wrong account or it is written on the wrong side of the account, it is called

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QUESTION: 4

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:

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QUESTION: 5

Rs. 200 paid as wages for erecting a machine should be debited to

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QUESTION: 6

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

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QUESTION: 7

Goods worth Rs. 50 given as charity should be credited to

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QUESTION: 8

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

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QUESTION: 9

Errors of commission do not permit;

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QUESTION: 10

The preparation of a trial balance is for:

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QUESTION: 11

Rs. 200 received from Smith whose account, was written off as a bad debt should be credited to :

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QUESTION: 12

Purchase of office furniture Rs. 1,200 has been debited to General Expense Account.It is :

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QUESTION: 13

Goods destroyed by fire should be credited to

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 The correct answer is A.

The goods destroyed by fire is a loss for the business and is a nominal account. Therefore, according to the rule of nominal account, all the expenses and losses are to be debited. Hence, "Loss by fire A/c" is debited when goods are destroyed by fire and "purchases A/c" is credited.

QUESTION: 14

Sales of office furniture should be credited to

Solution:

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