Class 11 Accountancy - Chapter Trail Balance and Rectification of Errors NCERT Solutions | Which of the following is not an error o

Which of 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 returns book.

A Trial balance is prepared:

(a) After preparation financial statement.
(b) After recording transactions in subsidiary books.
(c) After posting to ledger is complete.
(d) After posting to ledger is complete and accounts have been balanced.

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.

If the trial balance agrees, it implies that:

(a) There is no error in the books.
(b) There may be two sided errors in the book.
(c) There may be one sided error in the books.
(d) There may be both two sided and one sided errors in the books.

Depreciation written off on furniture  1,500 was not posted to depreciation account.
This is an error of ..................................
The wrong effect has been:

The correct effect should have been:

The rectification entry will be.

Trial balance is:

(a) An account.
(b) A statement.
(c) A subsidiary book.
(d) A principal book.

Record the rectification entry for the following transactions:

Credit sales to Rajni 5,000 recorded in Purchases book:
This is an error of ..........................................
State the wrong entry recorded in the book of accounts

Correct effect should have been:

The rectification entry will be:

Tick the Correct Answer

Agreement of trial balance is affected by:

(a) One sided errors only.
(b) Two sided errors only.
(c) Both (a) and (b).
(d) None of the above.

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.

If wages paid for installation of new machinery is debited to wages Account, it is:

(a) An error of commission.
(b) An error of principle.
(c) A compensating error.
(d) An error of omission.

Name any two types of commonly used negotiable instruments.

Why is it necessary to record the adjusting entries in the preparation of final accounts?

State the meaning of incomplete records?

What is ‘Depreciation’?

Briefly state how the cash book is both journal and a ledger.

State the four basic requirements of a database applications.

Define accounting.

State the different elements of a computer system.

Why is it necessary for accountants to assume that business entity will remain a going concern?

State the need for the preparation of bank reconciliation statement?

Give the performa of a Bill of Exchange.

What is the basic accounting equation?

State the relationship between information and decision.

Double entry accounting requires that :
(i) All transactions that create debits to asset accounts must create credits to liability or capital accounts;
(ii) A transaction that requires a debit to a liability account require a credit to an asset account;
(iii) Every transaction must be recorded with equal debits equal total credits.

Briefly state how the cash book is both journal and a ledger.

Explain the reasons where the balance shown by the bank passbook does not agree with the balance as shown by the bank column of the cash book.

Goods purchased on cash are recorded in the :
(i) Purchases (journal) book
(ii) Sales (journal) book
(iii) Cash book
(iv) Purchases return (journal) book

The journal entry to record purchase of equipment for ₹ 2,00,000 cash and a balance of ₹ 8,00,000 due in 30 days include:
(a) Debit equipment for ₹ 2,00,000 and Credit cash ₹ 2,00,000.
(b) Debit equipment for ₹ 10,00,000 and Credit cash ₹ 2,00,000 and creditors ₹ 8,00,000.
(c) Debit equipment ₹ 2,00,000 and Credit debtors ₹ 8,00,000.
(d) Debit equipment ₹ 10,00,000 and Credit cash ₹ 10,00,000.

Choose the Correct Answer

During the life-time of an entity accounting produce financial statements in accordance with which basic accounting concept :
(a) Conservation
(b) Matching
(c) Accounting period
(d) None of the above