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Q.1) Suspense account is opened when ____ does not tally
A. Balance sheet
B. Trial balance
C. Profit and loss
D. Trading account
Q.2) Which of the following is not an error of principle
A. Repair or the over hauling of machinery purchased debited to repairs account
B. Cash paid to Karan posted to salary
C. Sale of old car credited to sales account
D. Purchase of furniture debited to purchase account
Q.3) Which of the following is not an error of commission
A. Wrong balancing of machinery account
B. Credit sales to Pawan Rs.5000 credited to his account
C. Cash sales not recorded in cash book
D. Overcasting of sales book
Q.4) Which of the following error will be rectified through suspense account
A. Purchase return to Vishal Rs.1000 not recorded
B. Purchase return to Vishal Rs.1000 recorded through Sales return book
C. Purchase return book under cast by 1000
D. Purchase return to Vishal Rs.1000 recorded as Rs.100
Q.5) Trial balance is equal from both sides but still there is some error. It indicate that:
A. There may be one sided error in the book
B. There is no error in the book
C. There may be two sided error in the book
D. There may be two sided and one sided error in the book
Q.6) If wages paid for construction of building are debited to wages account. It is
A. An error of Omission
B. An error of compensation
C. An error of commission
D. An error of principle
Q.7) Trial balance is
A. A subsidiary book
B. A principle book
C. An account
D. A statement
Q.8) A trial balance is prepared
A. After preparation of financial statement
