Rectification of Errors
Commerce ⇒ Accountancy
Rectification of Errors starts at 11 and continues till grade 12.
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See sample questions for grade 11
A credit sale of Rs. 2,000 to Mr. X was wrongly credited to Mr. X’s account. What is the rectification entry?
A payment of Rs. 500 for stationery was debited to Furniture Account. What is the rectification entry?
A purchase of goods worth Rs. 5,000 was recorded in the sales book. What type of error is this?
A sum of Rs. 1,000 received from Ram was credited to Shyam. What type of error is this?
A credit sale of Rs. 2,000 to Mr. X was wrongly credited to Mr. X’s account. What is the rectification entry?
A payment of Rs. 500 for stationery was debited to Furniture Account. What is the rectification entry?
A purchase of goods worth Rs. 5,000 was recorded in the sales book. What type of error is this?
A sum of Rs. 1,000 received from Ram was credited to Shyam. What type of error is this?
Which of the following errors is disclosed by a trial balance? (1) Error of Omission (2) Error of Commission (3) Error of Principle (4) Compensating Error
Which of the following errors will affect the trial balance? (1) Error of Omission (2) Error of Principle (3) Posting only one side of a transaction (4) Compensating Error
Which of the following errors will NOT affect the agreement of the trial balance? (1) Error of Principle (2) Error of Omission (3) Error of Commission (4) Compensating Error
Which of the following is a two-sided error? (1) Posting only one side of a transaction (2) Recording a transaction in the wrong account on both sides (3) Omitting a transaction completely (4) Recording a transaction twice
Fill in the blank: Errors which affect both debit and credit sides of accounts are called ________ errors.
Fill in the blank: If a transaction is completely omitted from the books, it is called an error of ________.
Fill in the blank: If an error is detected after the final accounts are prepared, it is rectified in the ________ year.
Fill in the blank: If an error is detected after the preparation of the trial balance, it is rectified through the ________ Account.
State whether the following statement is True or False: Errors of principle do not affect the trial balance.
True or False: All errors can be detected by preparing a trial balance.
True or False: Errors affecting the trial balance are called one-sided errors.
True or False: Errors of omission can be complete or partial.
