Rectification of errors MCQs quiz

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on June 19, 2021

We have prepared a test of Multiple Choice Questions (MCQs) for the chapter Rectification of errors to help students to prepare their exams and test their understandings. The rectification of errors MCQs quiz consists of 10 questions. Every question has 4 answers from which students need to choose the correct one.
If you are facing any difficulty while answering the questions, we advise you to read the Rectification of errors chapter from the Financial Accounting section of our website.
Now, You can take the rectification of errors MCQs quiz below:

1. The errors in the books of account are broadly divided into:

2. Errors which are made while recording transactions in the journal and posting them in the ledger are called:

3. When a transaction is completely omitted to be recorded it is called:

4. Goods purchased from John for $2,000, no entry made in purchases book is an example of:

5. When a transaction is wholly or partially recorded incorrectly, it is called:

6. Salaries $5,100 wrongly posted to salaries account as $1,500 is an example of:

7. When a transaction is recorded without due regard of fundamental principles of accounting it is an example of:

8. If no distinction between capital and revenue expenditures in made while recording transaction, it is:

9. Inadequate provision for bad and doubtful debts is an example of:

10. Insufficient depreciation is an example of:

11. Errors of principle affect only one account.

12. Costing errors are not reflected in the Trial Balance.

13. Errors of Omission do not disturb Trial Balance.

14. One-Sided errors detected before the preparation of Trial Balance are rectified without Journal Entries.

15. Debit balance of suspense account carried forward to the next accounting period is recorded as assets in the Balance Sheet.

16. Insurance expense of $2,000 wrongly debited to salaries will decrease profit of $2,000.

17. Suspense account is not used in the rectification of two-sided errors.

18. If Debit column of Trial Balance is Short then Suspense Account will have debit balance.

19. Errors in Personal and real accounts affect the Net Profit.

20. Agreement of Trial Balance means there is no error in the books of account.

21. The error in which a transaction is completely omitted to be recorded in an error of ________.

22. If any transaction, wholly or partially, recorded incorrectly, it is an error of ______.

23. Disagreement of Trial Balance indicates that an __________ has been occurred.

24. Errors occur in Journals and Ledger are known as ______ errors.

25. Errors occur while totaling of special journals are called errors of _______ .

26. Basically, errors are classified into ______ group.

27. Compensating errors are of neturalizing nature.

28. Cost of furniture debited to Purchases Account is an example of error of ___________.

29. Net profit is affected due to the errors in Nominal accounts only.

30. One-sided errors are rectified via _________.


 

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