MC0065-201108: Unit2 - 2 Mark Quiz Questions

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Dashboard MC0065-201108 Quizzes Unit2 - 2 Mark Quiz Questions Attempt 1

Unit2 - 2 Mark Quiz Questions - Attempt 1

1 Marks: --/1 Choose one answer. a. A credit sale of Rs.700 to Uday is debited to Uday account only. b. A credit sale of Rs. 700 made to Uday, posted as debit in the sale account as Rs.700 and credit Uday account Rs.70 c. A cash sale of Rs. 1000, posted as credit sale of Rs. 1000 and debited Cash account by Rs. 100 d. A cash sale of Rs100 posted to the credit sales account only. Submit A trial balance will not reveal the following error.

2 Marks: --/1

An amount of Rs. 200 withdrawn by the proprietor for his personal use has been debited to trade expenses account.What is the effect of this error on profit? Choose one answer. a. Drawings account shows lower amount and so no effect on profit. b. Drawings low or high, are deducted from capital and so no effect on profit c. Trade expenses increase and so profit is reduced d. Profit will decrease and capital increases Submit

3 Marks: --/1

Identify in the following, where the error of duplication is committed. Choose one answer. a. Radheshyam a/c is debited by Rs. 672 instead of 762 b. Manorama a/c is credited by Rs. 6,770 instead of crediting Manojrama a/c. c. Kumar a/c shows Rs.574 debited twice for the same transaction d. Tamal Kanti Roy's is debited by Rs. 17,000 without any corresponding credit entry to any account Submit

4 Marks: --/1

Identify the error of principle in the following Choose one answer. a. Total of sales book is transferred to debit side of sales account b. Furniture account is wrongly debited for repairs to furniture account c. Cash received from Raghavan is wrongly debited to Raghavan's account d. Purchases book is over cast by Rs.800 Submit

5 Marks: --/1

Mr. Anderson owes to us Rs. 500. This is shown as Mrs Anderson. What type of error is this? Choose one answer. a. Error of omission b. Error of compensation c. Error of Principle d. Error of commission Submit

6 Marks: --/1

Repairs to building Rs 70,000 has been debited to building account. What is the error and what is the rectification entry? Choose one answer. a. There is no error and there is no rectification needed. b. Error of principle and the entry is to debit repairs to building account and credit building account c. Error of commission and the rectification entry is to debit building account and credit repairs to building account d. Error of set off and the rectification is debit repairs account and credit suspence account Submit

7 Marks: --/1

Trial balance has not tallied. Is it a conclusive proof that errors are present? Choose one answer. a. Yes, there may be disclosed and undisclosed errors b. Not necessarily c. No and a careful may be adequate to set it right d. Trial balance need not tally for the preparation of final accounts. Submit

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4/5/2012

MC0065-201108: Unit2 - 2 Mark Quiz Questions

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http://tel4.smude.edu.in/edunxt/mod/quiz/attempt.php?id=148474

4/5/2012