Question 2 :
D's trial balance contains the following information:<br/>Bad debts Rs. 500<br/>Provision for bad debts Rs. 4,000<br/>It is desired to maintain a provision of Rs. 3,000 at the end of the year Accounting treatment of this adjustment is_________________________.

Question 3 :
A, B and C were partners sharing profit and losses in the ratio of 3 :2 :1. A retired and firm received the joint life policy Rs. 12,000. The Joint Life Policy Account appearing in the balance sheet at Rs. 20,000. What will be the treatment for the balance in Joint Life Policy i.e., Rs.8,000.

Question 4 :
A's trial balance provides you the following information: Bad debts Rs.1,000. It is desired to maintain a provision for bad debts at Rs. 2,000. Amount debited to profit and loss a/c will be_________.

Question 6 :
A few errors committed in Amrut's books of account are given below. State which errors would affect the trial balance.<br>(1) Sales of Rs$950$ to Ram completely omitted from books of account.<br>(2) Purchases of Rs$720$ from Shyam entered in the purchases journal as Rs$700$.<br>(3) Purchases Journal is overcast by Rs$1,000$<br>(4) Sales returns journal is under cast by Rs$200$.<br>(5) Amount paid to Agarwal wrongly posted to the debit to Mittal's account.<br>(6) Bank overdraft shown under debit column in the Trial Balance.<br>(7) Sales of Rs$500$ to Sadiq entered in sales journal as sales to Mushtaq.<br>(8) Wages paid for installation of machinery debited to wages account.<br><br>Select the correct answer from the options given below.<br>

Question 7 :
Which of the following will disturb the balancing of the trial balance?

Question 8 :
Which of the following will disturb the balancing of the trial balance?

Question 9 :
If a transaction is entered more than one time, it is known as -<br>

Question 10 :
Rs$2,400$, being the pre-paid portions of insurance, was brought forward from the previous year as a credit balance in the nominal account. Identify the amount of the trial balance difference which will be placed in a suspense account.

Question 11 :
Which of the following error can be disclosed by trial balance?

Question 12 :
Cartage Rs$780$ paid on machinery newly acquired was debited to carriage inward account. If his error located after preparation of trial then which of the following rectification entry is correct?

Question 13 :
Total of purchases book was Rs$10,000$ short. If rectification is done before preparation of trial balance then which of the following is correct?

Question 14 :
Which of the following statements is / are true?<br/>(i) An error in casting the subsidiary books is an error of commission.<br/>(ii) An error in wrong casting of the sales day book will not affect the personal accounts of debtors.<br/>(iii) Mistake in transferring the balance of an account to the trial balance will not affect the agreement of the trial balance.<br/>(iv) The mistake of treating a liability as an income or vice versa will not affect the agreement of a trial balance.<br/>The correct answer is ______________.<br/>

Question 15 :
If the trial balance do not agree after transferring the balance of all ledger accounts including cash and bank balance and also errors are not located timely, then the trial balance is tallied by transferring the difference of debit and credit side to an account knows as_____________.

Question 16 :
Which of the following errors will not affect the Trial Balance ?

Question 17 :
The type of collateral (security) used for short-term loan is ___________________.

Question 18 :
Which of the following error will affect the Trial Balance ?

Question 19 :
While checking the accounts of ABC the following discrepancies were noticed, even though the trial balance was made to balance by putting the difference to Suspense A/c.<br>(i) Sales day book for the month of June was found overcast by Rs$7,000$.<br>(ii) A credit purchase of Rs$3,000$ was omitted to be recorded in the purchase day book.<br>(iii) Rs$4,300$ received from A credited to A A/c Rs $3,400$.<br>(iv) Purchase of Office Equipment worth Rs $5,000$ included in trading purchases.<br>From the above details what would have been the difference in Trial Balance which was made to balance by opening Suspense A/c.<br>

Question 21 :
In recording a receipt of Rs 100 of cash from a customer on account, the cash account is erroneously credited instead of being debited (Account receivable account is credited for the correct amount). Assuming no other error, the debit total of the trial balance at the end of the month is Rs.7,600. What is the total of the credit column of the trial balance?

Question 22 :
Which of the following is not true of a trial balance?

Question 23 :
$Rs.510$ paid on carriage of office equipment was debited to sundry expenses a/c. On rectification ________ account will be debited.

Question 25 :
A firm has inventory turnover of 6 and cost of goods sold is Rs. 7,50,000. With better inventory management, the inventory turnover is increased to 10. This would result in: