Question 1 : 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 2 : Under statement of closing stock or work-in-progress in the period will _________.

Question 4 : A sale of Rs$13,600$ was recorded in the sales journal as Rs$3,600$ and posted to Govind, the customer as Rs$6,300$. Identify the amount of the trial balance difference which will be placed in a suspense account.

Question 5 : Which of the following errors will be revealed by the trial balance?

Question 6 : State with reasons whether the following statement is true or false:<br>Any type of error affects the agreement of Trial Balance.

Question 7 : While carrying forward the total of one page of the Purchases Book to the next, the amount of Rs$12,350$ was written as Rs$13,250$. If this error located after preparation of trial then which of the following rectification entry is correct?

Question 8 : Difference of totals of both debit and credit side of the trial balance is transferred to _________.

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

Question 11 : The factor which distinguishes an error from fraud and other irregularity is _________.

Question 12 : Sales to Ram $Rs.336$ posted to his account as $Rs.363$ would effect _________.

Question 13 : If&#160;a purchase return of Rs.&#160;1,000 has been wrongly posted to the debit of&#160;the sales returns account, but has been correctly entered in the suppliers&#160;account, the total of the _________________.

Question 14 : 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 15 : 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 16 : Credit sales of Rs.5500 not recorded in the Sales day book. On rectification in subsequent year________.

Question 19 : If the closing stock at the end of the year is overstated by Rs.7,500, the error cause an_______________________.

Question 20 : _______ is opened to rectify the entries in the next accounting period which involves nominal accounts.

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

Question 23 : Which of the following errors will not cause the trial balance to be out of order?

Question 27 : Which of the following errors will not affect the Trial Balance ?

Question 28 : An invoice of Rs 560 is entered in the sales books Rs 650. The total of the debit side of the trial balance is Rs 21,240. Assuming no other error, what is the total of the credit side of the trial balance?

Question 29 : The type of collateral (security) used for short-term loan is ___________________.

Question 30 : $Rs.510$ paid on carriage of office equipment was debited to sundry expenses a/c. On rectification ________ account will be debited.

Question 31 : Rs. 2,750 received from Sohan was credited to Mohan as Rs.2,750. If rectification is done before preparation of trial balance then which of the following rectification entry will be correct?

Question 33 : Credit sales of Rs.5000 was wrongly credited to office equipment. On rectification of this error next year _______.

Question 34 : $Rs.4500$ spent on repair of office equipment debited to office equipment a/c.On rectification of profit and loss a/c ________.

Question 36 : A credit sale of Rs$1,000$ to Santhanam has been wrongly passed through the purchases book. Which of the following rectification entry is correct?

Question 37 : Purchases book was undercast by Rs$10,000$. If this error located after preparation of final account then which of the following rectification entry is correct?

Question 38 : A sales of Rs 2,000 wrongly entered in the purchase book leads to a correction in which of the following?

Question 39 : Which are the errors which does not affect the trial balance?

Question 40 : 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: