Errors which affect one account can be _______

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Question:
Errors which affect one account can be _______

1.errors of omission

2.errors of principle

3.errors of posting

4.error of commission

Posted Date:-2021-10-28 15:32:26

More MCQS Questions and answers

  1. A bank pass book is a copy of ________
  2. A bill drawn and accepted for providing funds to a friend in need is known as _______
  3. A Cheque received and deposited in the bank on the same day is recorded in the _______
  4. A credit sale of goods to Shiva should be debited to _______
  5. A debit balance in the income and expenditure account denotes excess of ____ over______.
  6. A person who draws a bill of exchange is known as the _____
  7. Account current is a journal:
  8. Any donation received for a specific purpose is a _________
  9. Any expenditure incurred in order to reduce the operating expenses is _____
  10. Any written document in support of a business transaction is called a ________
  11. Balance sheet is a _______
  12. Bank account is _______
  13. Bills are drawn by ______
  14. Bills Receivable book is to keep record of _______
  15. Book-keeping is mainly concerned with __________
  16. Capital=
  17. Cash book prepared on imprest system is ________
  18. Depreciation deducted from the concerned _______
  19. Errors which affect one account can be _______
  20. Excess of income over expenditure in shown on the ______________ side of income and expenditure account.
  21. Expenditure incurred on research is an example of _______
  22. Goods destroyed by fire should be credited to _______
  23. Heavy advertising to launch a new product is a _______
  24. In triple column cash book, cash withdrawn from bank for office use will appear in ______
  25. Income and expenditure account reveals ________
  26. Interest on drawings is ______
  27. Ledger is a book of ______________empor
  28. Ledger is also called ________
  29. Purchase of machinery is recorded in _______
  30. Purchase of Typewriter would result in ______________ of fund.
  31. Revenue receipts are ______________ in the business.
  32. Rs. 500 spent on servicing office typewriter should be debited to _________
  33. Specific donations received by a non-trading concern are usually ______
  34. Subscription received in advance is _______
  35. Subscriptions received in advance will figure in the _________
  36. The appropriate book to record credit purchase of machinery is _______
  37. The balance of cash account indicates __________
  38. The basic function of financial accounting is to ______
  39. The holder of a bill who endorses it is called
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  41. The receipts and payments account begins with ________
  42. Wages paid for erection of machinery are debited to _______
  43. When a bill is discharged, the acceptor debits ____
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  45. Which of the following is related to nominal account?
  46. Which of the following items should not be entered in receipts and payments account of a club?
  47. Which one of the following is an example of personal account?
  48. Which one the following is an example of an intangible asset?
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