1. In book-keeping posting means :
1. to record the transaction only
2. To record the transaction from journal to the ledger
3. To record the transaction only in ledger
4. None of these
2. The basic rule of book-keeping, debit the receiver and credit the giver is applicable to :
1. Personal account 2. Real account
3. Nominal account 4. None of these
3. Goods of the value of Rs.1,500 taken by the proprietor for his personal use should be debited to :
1. sales account 2. Purchase account
3. drawing account 4. None of these
4. Goods destroyed by fire should be credited to :
1. purchase account 2. Sales account
3. loss of goods by fire account 4. None of these
5. The credit balance of bank account indicates.
1. amount payable by the bank 2. Amount payable to the bank
3. amount receivable to the bank 4. Cash at bank
6. Which is the following is the preparing the trial balance method is ?
1. Total method 2. Balance method
3. Both 1 and 2 4. Neither of above 1 & 2
7. Which of the following accounts will invariably have a debit balance ?
1. bank account 2. Account receivable a/c
3. accounts payable a/c 4. None of these
8. Which of the following accounts have only credits balance ?
1. accounts payable account 2. Salaries outstanding a/c
3. reserve funds a/c 4. All of the above
9. Which of the following accounts may have a debit or credit balance ?
1. Discount received account 2. Sales account
3. Trade expenses a/c 4. Loan a/c
10. The error in the casting of sale book is called as :
1. Clerical error 2. Error of principle
3. compensating error 4. None of these
11. Error of commission arises when :
1. any transaction is in correctly recorded, either wholly or party.
2. Any transaction is left either wholly or partially.
3. Any transaction is recorded in a fundamentally incorrect manner
4. None of these
12. Wages paid for the erection of a machine debited to wages account is an example of :
1. error of principle 2. Clerical error
3. compensating error 4. None of these
13. Error of balancing affects – accounts :
1. One account 2. Two accounts
3. Two or more accounts 4. None of these
14. Preparation of trial balance helps in locating errors of :
1. omission 2. A clerical nature 3. Commission 4. All types
15. An entry of Rs.840 being debited to sonali’s a/c as Rs.480 would be an error of :
1. commission 2. Omission
3. principle 4. Negligible significance
16. An entry of Rs.1,000 being wrongly posted to wages a/c instead of machinery a/c would be an error of ?
1. omission 2. Commission
3. principle 4. A clerical nature
17. An expense of Rs.500 on cartage of a new machine purchased should be debited to :
1. cash a/c 2. Miscellaneous expenses a/c
3. cartage a/c 4. Machine a/c
18. Error which affect one account can be :
1. errors of omission 2. Errors of principle
3. errors of posting 4. None of these
19. Error of carry forward affect –
1. personal a/c 2. Impersonal a/c
3. nominal a/c 4. Suspense a/c
20. Sales of Ram, Rs.336, posted to his account as Rs.363 affect …
1. sales account 2. Ram’s account
3. both 1 and 2 4. None of these
21. Sales to Uma Rs.336 have been debited to Thulasi account. This will be rectified by :
1. Uma a/c – Dr. To Thulasi a/c
2. Thulasi a/c – Dr. To Uma a/c
3. Crediting both the account
4. None of these
22. Sales to Mahesh Rs.336, were not recorded this will affect –
1. purchase account 2. Sales account
3. mahesh account 3. Both 2 and 3
23. Cartage paid, Rs.50 for the newly purchased machinery, if debited to cartage account will affect ;
1. only machinery account 2. Only cartage account
3. both 1 and 2 4. None of these
24. Goods purchase from Raju for Rs.1,000 were passed through sales book. The rectification of the error will :
1. increase the gross profit 2. Decrease the gross profit
3. neither of the two 4. Only Raju account affect
25. An amount of Rs.200 paid to Bixam against an acceptance was debited to Pandu’s account. The rectification of the error will :
1. increase the net profit 2. Bixam’s account increase
3. reduce net profit 4. Have no effect on the net profit
26. An amount of Rs.300 written off as bad debt was received from X and was credited to X’s personal account. The rectification of this entry will :
1. increase net profit by Rs.300 2. Reduce net profit by Rs.300
3. both 1 and 2 4. None of these
27. Discount allowed Rs.93 to Mohan has been credited to his account by Rs.39. the error will be rectified by :
1. Debiting Mohan by Rs.54 2. Crediting Mohan by Rs.54
3. Debiting discount by Rs.54 4. None of these
28. Which item is shown on the debit side of a trial balance ?
1. purchase returns 2. Rent outstanding a/c
3. prepaid expenses 4. None of these
29. Bills receivable book is a part of :
1. ledger 2. Journal 3. Balance sheet 4. None of these
30. An entry of Rs.320 has been debited to vivek’s account as Rs.230. it is an error of :
1. commission 2. Omission
3. principle 4. None of these above
Answers
1.2 2.1 3.3 4.1 5.2 6.3 7.2 8.4 9.4 10.1 11.1 12.1
13.1 14.2 15.1 16.3 17.4 18.3 19.2 20.2 21.1 22.4 23.1 24.2
25.4 26.1 27.4 28.3 29.2 30.1
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