Question 1 : <p>An amount of ₹8,765 paid to M was debited to N's a/c. The rectification of the error will be:</p>
Question 2 : <p>Mr. Ravi Shankar Iyer is carrying sole proprietorship, business. On the occasion of his daughter’s marriage he bought a car for ₹5,00,000 to gift it to his son-in-law. To record the above transaction he passed the following journal entry:</p><p>Car account Dr. ₹5,00,000</p><p> To Cash account ₹5,00,000</p><p>What will be the journal entry to rectify the above journal entry as already passed by him?</p>
Question 3 : <p>The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:</p><ol> <li> A cheque received for ₹3,100 from Franc & Co. was dishonoured and debited to discount account.</li> <li> The sales account has been totalled shot by ₹23,000.</li> <li> Goods of ₹1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.</li></ol><p>After rectifying above mistakes, net profit will be;</p>
Question 4 : <p>Ram earned a profit of ₹1,40,000 for the year 2008-09. But at the time of audit, the auditor found that Ram purchased a scooter on 1.4.08 for ₹20,000 and charged it as revenue expenses. The auditor advised him to rectify the error now and to charge depreciation @ 15% on scooter. The correct profit after rectification will be:</p>
Question 5 : <p>Goods worth ₹750 were purchased from S & Co. but while posting wrong debit was given to R & Co. The total of credit side of the trial balance was ₹43,750. Assuming that this is the only error, the total of the debit side of the trial balance was:</p>
Question 6 : <p>Goods purchased from Keshav ₹13,500 has been recorded as ₹13,000 in purchase book. The error in this entry is:</p>
Question 7 : <p>A sale of ₹637 was entered in sales book as ₹763 and posted to the credit of the customer. This error carried to next accounting period. You are required to give journal entry to rectify the error is next accounting period.</p>
Question 8 : <p>A purchase of computer was debited to office expenditure account. This is an error of:</p>
Question 9 : <p>An amount of ₹6,000 due from Anshul, which had been written off as a bad debt in a previous year, was unexpectedly recovered and had been posted to his personal account. The rectification entry is:</p>
Question 12 : <p>Total of sales book was understated by ₹200. Rectification entry will be:</p>
Question 13 : <p>Credit sale of ₹10,000 made to Sallu was passed through purchase<b> </b>book. The proper entry for rectification was the following:</p>
Question 14 : <p>When the total of trial balance is not reconciled, the account opened at this juncture is:</p>
Question 15 : <p>If purchase of goods amounting ₹500 has been wrongly posted to credit side of purchase account. The difference in the trial balance would be:</p>
Question 16 : <p>Sale of old furniture is wrongly transferred to sales account. Which type of error is this?</p>
Question 17 : <p>The beginning stock of the current year is overstated by ₹500 and closing stock is overstated by ₹1200. Effect on profit:</p>
Question 18 : <p>A machine was purchased for ₹3000 which was wrongly recorded in purchase a/c. Due to this error:</p>
Question 20 : <p>Which type of error occurs when credit sale is wrongly posted to purchases book?</p>
Question 21 : <p>Sales for ₹5,000 was entered as purchase. The effect of this error will be:</p>
Question 22 : <p>If a purchase return of ₹3,500 has been wrongly posted to the debited of the sales returns account, but has been correctly entered in the supplier's account, the total of-</p><p> </p>
Question 23 : <p>A cloth merchant, purchased furniture and recorded in purchase day book it is error of:</p>
Question 24 : <p>Which type of error can occur while posting the journal entries in the ledger?</p>
Question 25 : <p>Sale to Mr. Z of ₹3,000 on credit was recorded twice in the sales book. The rectification entry is:</p>
Question 26 : <p>Old office furniture sold to Sethi for Rs.2,000 was entered in the sales book. The book value of furniture sold was Rs.2,500. Rectification entry would be:</p>
Question 27 : <p>Wages ₹500 paid for installation of a new machine was wrongly posted to wages account instead of machinery account It is an error of:</p>
Question 29 : <p>Sale of old furniture is erroneously entered in sales book. Rectification entry will be:</p>
Question 30 : <p>‘A' sold goods to 'B' on credit for ₹15,000 but debited to ‘C' instead of ‘B'. The entry would affect:</p>
Question 31 : <p>Sales of ₹1,540 to Mr. X was posted to his account as ₹1,450. To rectify the error, ₹90 will be_____________ to X’s account:</p>
Question 32 : <p>On examination of old books of Mr. Rai's firm, a Chattered Accountant found the following mistakes:</p><ol> <li> Purchase of a cycle was debited to conveyance account ₹3,000, fixed assets are depreciated at 10% depreciation.</li> <li> A credit purchase of goods from Mr. X for ₹2,500 entered as sales.</li> <li> of cash from Mr. A was posted to the account at Mr. B ₹1,500.</li></ol><p>What will be the effect on Capital Account of Mr. Rai after rectifying above mistakes?</p>
Question 34 : <p>What will be the effect when return inward is wrongly entered as return outward?</p>
Question 35 : <p>On scrutiny, an accountant found that:</p><ol> <li>Bad debts recovery of ₹500 was credited to debtors a/c wrongly.</li> <li>Bank charges of ₹50 was wrongly entered twice in bank book.</li> <li>Purchase return of ₹100 was omitted to be entered in the books of a/c.</li></ol><p> What will be the net effect in profit after above rectification?</p>
Question 36 : <p>Which of the following errors will not be revealed by trial balance at the end of the year?</p>
Question 37 : <p>Which type of error occurs when credit sales is wrongly posted to Purchase Day Book:</p>
Question 38 : <p>Hari charges 10% depreciation on plant and machinery. On 1st April, 2011 he debited ₹7,520 paid on installation of plant and machinery to profit and loss account. At the time of preparing final accounts on 31st March, 2012 due to this error.</p>
Question 39 : <p>Bill accepted by Govinda was discounted with the bank for ₹2000. On the due date the bill was dishonoured. However, there is erros of Omission towards Bills dishonoured. Journal Entry for rectification wil be:</p>
Question 40 : <p>A new machine was purchased for Rs.1,00,000 but the amount was wrongly posted to Furniture account as Rs.10,000 and cash received from debtors Rs.11,200 was omitted to be posted to ledger. The difference in Trial balance due to such error will-</p>
Question 41 : <p>₹18,000 received from tenant for rent and entered correctly in the cash book. It is posted to the debit of the rent account. In the trial balance:</p>
Question 42 : <p>₹1,000 received as interest, shown as interest paid in cash book. Due to this error the cash balance will be effected by:</p>
Question 43 : <p>Goods purchased of ₹100 from N was not recorded at all. What will be its effect on the trial balance?</p>
Question 44 : <p>If one of the cars purchased by a car dealer is used for business purpose and has been debited to goods for resale a/c, then the rectification entry will be:</p>
Question 45 : <p>Stamp duty on property purchased has been debited to "legal Expenses" account by the accountant. Which type of error has been commited?</p>
Question 46 : <p>A cheque for ₹500 received from Yuvraj & Co. was dishonoured and debited to discount account. Due to rectification of this error, net profit will:</p>
Question 47 : <p>A cheque of ₹1000 received from Ramesh was dishonored and had been posted to the debit of sales return account. Rectifying journal entry will be:</p>
Question 49 : <p>Which of the following mentioned error will not affect the Trial Balance?</p>
Question 50 : <p>An error can be deleted at any of the following stages:</p>
