This quiz works best with JavaScript enabled. Home > English Grammar > Grammar > Editing And Proofreading > Correction Of Errors – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Correction Of Errors Quiz 5 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Furniture of Rs8000 was purchased from Rahul on credit. Rahul's account was correctly credited but furniture account was debited with Rs80, 000. What will be the rectifying entry? A) Suspense a/c dr 8000To Furniture a/c. B) Furniture a/c Dr 72000To Rahul 72000. C) Rahul dr 72000To suspense a/c 72000. D) None of these. Show Answer Correct Answer: D) None of these. 2. Which of the following errors will NOT affect the agreement of a trial balance? A) A-Error in computation of balances. B) B-Transposition of figures. C) C-Errors of wrong posting in the debit and credit columns. D) D-Errors of principle. Show Answer Correct Answer: D) D-Errors of principle. 3. In which of the following circumstances will the preparation of a Trial Balanceassist in disclosing an error? A) A-Failure to post an entry journal. B) B-Posting rent expenses to motor running account. C) C-Failure to post part of a journal entry. D) D-Posting the debit of a journal entry as a credit and vice versa. Show Answer Correct Answer: C) C-Failure to post part of a journal entry. 4. A suspense account is used to rectify? A) Errors affecting trial balance agreement. B) Errors not affecting trial balance agreement. C) Both types of errors. D) None of these. Show Answer Correct Answer: A) Errors affecting trial balance agreement. 5. State the effect on Profit for the Year:Cash payment for Furniture and Fittings had been entered into the bank account in error A) Increase. B) Decrease. C) No Effect. D) None of the above. Show Answer Correct Answer: C) No Effect. 6. State the effect on Profit for the Year:Sales over added by £150 A) Increase. B) Decrease. C) No Effect. D) None of the above. Show Answer Correct Answer: B) Decrease. 7. Sales of 1, 500 posted correctly but omitted from trial balance: A) Error of principle. B) Error of omission. C) Compensating error. D) Error of commission. Show Answer Correct Answer: B) Error of omission. 8. BOTH SALES AND WAGES WERE OVERCAST BY $ 100. THE CORRECT JOURNAL ENTRY WAS ..... A) DEBIT SALES $ 100 AND CREDIT WAGES $ 100. B) DEBIT SALES $ 100 AND CREDIT SUSPENSE $ 100. C) DEBIT WAGES $ 100 AND CREDIT SALES $ 100. D) DEBIT WAGES $ 100 AND CREDIT SUSPENSE $ 100. Show Answer Correct Answer: A) DEBIT SALES $ 100 AND CREDIT WAGES $ 100. 9. What type of error has occurred when credit sales of $ 120 to Yan were debited to the account of Leo? A) Omission. B) Compensating. C) Commission. D) Principle. Show Answer Correct Answer: C) Commission. 10. Cost of repairs to the ceiling, $ 5, 400, has been posted to the premises account.State the effect of error on profit for the period, assets, liabilities and equity. A) Profit for the period, Assets and Equity-overstated. B) Profit for the period, Assets and Equity-overstated by $ 5, 400. C) Profit for the period, Assets, Liabilities and Equity-overstated by $ 5, 400. D) Profit for the period, Assets, Liabilities and Equity-no effect. Show Answer Correct Answer: B) Profit for the period, Assets and Equity-overstated by $ 5, 400. 11. Payment of $ 1200 for utilities by cheque has been omitted from the books. The correcting journal entry would be: A) DR Utilities expense 1200 CR Cash at bank 1200. B) DR Utilities expense 1200 CR Utilities expense payable 1200. C) DR Utilities expense payable 1200 CR Utilities expense 1200. D) DR Cash at bank 1200 CR Utilities expense 1200. Show Answer Correct Answer: A) DR Utilities expense 1200 CR Cash at bank 1200. 12. Repairs recorded as equipment: A) Error of commission. B) Error of omission. C) Error of principle. D) Compensating error. Show Answer Correct Answer: C) Error of principle. 13. A cheque payment of $ 500 for rent was not recorded. Name the error. A) Error of omission. B) Error of commission. C) Compensating error. D) Error of principle. Show Answer Correct Answer: A) Error of omission. 14. Purchase of stationary for $ 76 from papers manufacturers ltd was posted as $ 67. what is the rectification entry? A) Dr:Papers manufacturers ltd $ 76Cr:Purchases $ 76. B) Dr:Stationary $ 9Cr:Papers manufacturers ltd $ 9. C) Dr:Papers manufacturers ltd $ 9Cr:Purchases $ 9. D) Dr:Purchases $ 76Cr:Papers manufacturers ltd $ 76. Show Answer Correct Answer: B) Dr:Stationary $ 9Cr:Papers manufacturers ltd $ 9. 15. Drawing's account had been over casted by $ 250 and rent received account also over casted by $ 250. what type of error is this? A) Original Entry. B) Error of Commission. C) Compensating Error. D) Complete Reversal Entry. Show Answer Correct Answer: C) Compensating Error. 16. Purchase of office equipment worth $ 400 by cheque has been recorded as repairs of equipment. The correcting journal entry would be: A) DR Repairs expense 400 CR Cash at bank 400. B) DR Office equipment 400CR Repairs expense 400. C) DR Repairs expense 400CR Repairs expense payable 400. D) DR Repairs expense 400CR Office equipment 400. Show Answer Correct Answer: B) DR Office equipment 400CR Repairs expense 400. 17. If the trial balance totals are unequal, this indicates: A) All accounts are correct. B) Errors in ledger postings or balancing. C) Profit has been earned. D) Cash has been overstated. Show Answer Correct Answer: B) Errors in ledger postings or balancing. 18. A further sale of goods to Shakib of £1750 had not been recorded in the books of The Coach. A) Error of commission. B) Error of omission. C) Error of original entry. D) Error of principle. Show Answer Correct Answer: B) Error of omission. 19. Ledger balances:Cash 3, 000 (Dr), Bank 7, 000 (Dr), Capital 8, 000 (Cr), Sales 2, 000 (Cr). A) Debit 12, 000; Credit 10, 000. B) Debit 10, 000; Credit 10, 000. C) Debit 10, 000; Credit 8, 000. D) Debit 10, 000; Credit 12, 000. Show Answer Correct Answer: B) Debit 10, 000; Credit 10, 000. 20. A sale of 2, 000 is recorded as 200 in the sales book. This is: A) Compensating error. B) Error of principle. C) Error of commission. D) Error of omission. Show Answer Correct Answer: C) Error of commission. 21. Cheque of $ 550 received from Betty has been debited to Betty's account and credited to cash at bank account. The correcting journal entry would be: A) DR Cash at bank 1100CR Trade receivables-Betty 1100. B) DR Trade receivables-Betty 550CR Cash at bank 550. C) DR Trade payable-Betty 550CR Cash at bank 550. D) DR Cash at bank 1100CR Trade payable-Betty 1100. Show Answer Correct Answer: A) DR Cash at bank 1100CR Trade receivables-Betty 1100. 22. The entries made for the payment of a credit supplier, L Mohammed, by cheque $ 320 were:Dr Bank $ 320, Cr L Mohammed $ 320 A) Errors of principle. B) Errors of commission. C) Errors of original entry. D) Errors of complete reversal. E) Errors of omission. Show Answer Correct Answer: D) Errors of complete reversal. 23. Transaction entered in correct account but with incorrect figure A) Error of commission. B) Error of omission. C) Error of original entry. D) Error of principle. Show Answer Correct Answer: C) Error of original entry. 24. Sales of credit for $ 44 to Noor was debited to the account of Yarin A) Omission. B) Principle. C) Reversal. D) Commission. Show Answer Correct Answer: D) Commission. 25. A cheque counterfoil for rent $ 680 was entirely overlooked A) Compensating errors. B) Errors of commission. C) Errors of omission. D) Errors of principle. E) Errors of original entry. Show Answer Correct Answer: C) Errors of omission. 26. All nominal accounts were closed and income statement was prepared. Sales invoice of $ 3000 were omitted. Correcting journal entries should be: A) Dr. Trade receivables $ 3000 Cr. Sales $ 3000. B) Dr. Trade receivables $ 3000 Cr. Profit and loss $ 3000. C) All the above. D) None of the above. Show Answer Correct Answer: B) Dr. Trade receivables $ 3000 Cr. Profit and loss $ 3000. 27. A receipt showed that cash sales had totalled $ 2320. The entries in the accounts were Dr Cash $ 2230 and Cr Sales $ 2230 A) Errors of commission. B) Errors of omission. C) Errors of principle. D) Errors of original entry. E) Errors of complete reversal. Show Answer Correct Answer: D) Errors of original entry. 28. 05) The total of the debit column of a trial balance was more than the total of the credit column. One account balance had been entered in the wrong column. Which one was it?A cash B discount received C drawings D irrecoverable debts A) A. B) B. C) D. D) C. Show Answer Correct Answer: B) B. 29. A cheque of RM 2, 500 received for commission income was debited to the commission income and credited to cash at bank account. A) Reversal Error. B) Compensating Error. C) All the above. D) None of the above. Show Answer Correct Answer: A) Reversal Error. 30. Discounts allowed of $ 28 were debited to the credit customer's account and credited to the discounts allowed account A) Errors of original entry. B) Errors of omission. C) Errors of complete reversal. D) Errors of principle. E) Errors of commission. Show Answer Correct Answer: C) Errors of complete reversal. ← PreviousNext →Related QuizzesGrammar QuizzesEnglish Grammar QuizzesCorrection Of Errors Quiz 1Correction Of Errors Quiz 2Correction Of Errors Quiz 3Correction Of Errors Quiz 4Correction Of Errors Quiz 6Accept Vs. Except QuizAffect Vs Effect QuizCommon Mistakes Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books