11th class Principles of Accounting chapter 14 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 14(Rectification of Errors)

This online test contains MCQs about following topics:

. Errors causing disagreement of trail balance . Errors not causing disagreement of trail balance . What to do when the trail balance does not agree? . Agreement of trail balance by opening suspense account . How the errors are rectified? . Correction of one sided errors if detected before preparation of the trail balance . Correction of two-sided errors after preparation of the trail balance but before the preparatin of the final accounts . Effect of errors on the final accoutns or the financial statements

ICOM Part 1 Accounting Ch 14 Test

Start Accounting Ch 14 Test

ICOM Part 1 English Medium Subjects

Principles of Accounting

Principles of Economics

Principles of Commerce

ICOM Part 1 Urdu Medium Subjects

Principles of Commerce

Principles of Economics

Principles of Accounting

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Iffat Sani 20 - Jan - 2022 02 Min 23 Sec 13/15
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Zafar Ali 28 - May - 2024 00 Min 08 Sec 11/15
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Muhammad Muntazir 16 - Apr - 2022 11 Min 13 Sec 11/15
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kalsoom 11 - Jan - 2024 03 Min 37 Sec 10/15
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Rabia Javaid 11 - Mar - 2023 06 Min 12 Sec 10/15
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Amna 15 - Apr - 2021 03 Min 49 Sec 9/15
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Zain 09 - Jul - 2021 04 Min 21 Sec 9/15
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Samar 09 - Jul - 2021 07 Min 49 Sec 9/15
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Haroon Abdullah 13 - Jul - 2022 00 Min 11 Sec 7/15

Sr.#	Question	Answer
1	Error which affects profit and loss account relates to	A. Nominal account B. Property account C. Personal account D. None of these
2	.If the error committed in the capital account, it will affect	A. Trading account B. Profit and loss account C. Trading and profit and loss account D. Balance sheet
3	If there is any error in Bank account it will affect	A. Trading and profit and loss account B. Profit and loss account C. Trading account D. Balance sheet
4	If amount for Rs. 554 recovered from Ali, previously written off as bad debts we should	A. Debited to bad debts recovered account B. Credited to Ali account C. Debited to bad debts account D. Credited to bad debts recovered account
5	Error of carry forward will affect	A. Personal accounts B. Nominal accounts C. Impersonal accounts D. None of these
6	If any income omitted to be recorded it will	A. Overstate the profit B. Understate the profit C. Both a & b D. having no effect on profit
7	Errors is casting of subsidiary books are called as	A. Error of omission B. Compensating error C. Error of posting D. Clerical errors
8	If any expense omitted to be recorded it will	A. Overstate the profit B. Understate the profit C. Both a & b D. No effect on profit
9	Transportation cost paid for the purchases of Machinery must be debited to	A. Transportation cost account B. Purchases account C. Machinery account D. Cash account
10	If goods purchased from Rahim for Rs. 499, credited to Rehman's account for Rs. 499. this is an	A. Error of commission B. Error of principle C. Compensating error D. Error of principle

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First Year Principles of Accounting Chapter 14 Online MCQ Test for 1st Year Principles of Accounting Chapter 14 (Rectification of Errors)

ICOM Part 1 English Medium Subjects

ICOM Part 1 Urdu Medium Subjects

MCQ's Test For Chapter 14 "Principles of accounting Icom Part 1 English Medium Chapter 14 Online Test"

Principles of accounting Icom Part 1 English Medium Chapter 14 Online Test

If the balance of suspense account is credit then it will be shown in balance sheet on

If any expense omitted to be recorded it will

The credit purchases were wrongly recorded in sales book, the rectification of entry

A sale of Rs. 1000 to Farid, was credited to his account, it will affect

Transportation cost paid for the purchases of Machinery must be debited to

Errors, which do not affect on profit calculation, will have an effect only on

If there is any error in Bank account it will affect

Wages paid for the erection of machine debited to wages account is an example of

Error of carry forward will affect

If a transaction has been completely omitted from the Journal it will be considered

.If the error committed in the capital account, it will affect

Any difference in trail balance, is transferred to

Trade expenses of Rs. 180 posted in the ledger as Rs. 810, it will be considered as

Errors is casting of subsidiary books are called as

If goods purchased from Rahim for Rs. 499, credited to Rehman's account for Rs. 499. this is an

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11th Principles of Accounting Chapter 14 Test

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