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Trial Balance and Rectification of Errors Class 11 MCQs Questions with Answers
Choose the correct option.
Question 1.
Agreement of trial balance is affected by
(a) one sided errors only
(b) two sided errors only
(c) both (a) and (b)
(d) none of the above
Answer
Answer: (c) both (a) and (b).
Question 2.
Which of the following is not an error of principle?
(a) Purchase of furniture debited to purchases account.
(b) Repairs on the overhauling of second hand machinery purchased debited to repairs account.
(c) Cash received from Manoj posted to Saroj.
(d) Sale of old car credited to sales account.
Answer
Answer: (c) Cash received from Manoj posted to Saroj.
Question 3.
Which of the following is not an error of commission?
(a) Overcasting of sales book.
(b) Credit sales to Ramesh Rs. 5,000 credited to his account.
(c) Wrong balancing of machinery account.
(d) Cash sales not recorded in cash book.
Answer
Answer: (d) Cash sales not recorded in cash book.
Question 4.
Which of the following errors will be rectified through suspense account?
(a) Sales return book undercast by Rs. 1,000.
(b) Sales return by Madhu Rs. 1,000 not recorded.
(c) Sales return by Madhu Rs. 1,000 recorded as Rs. 100.
(d) Sales return by Madhu Rs. 1,000 recorded through purchases return book
Answer
Answer: (a) Sales return book undercast by Rs. 1,000.
Question 5.
If the trial balance agrees, it implies that:
(a) there is no error in the books.
(b) there may be two sided errors in the book.
(c) there may be one sided error in the books.
(d) there may be both two sided and one sided errors in the books.
Answer
Answer: (b) there may be two sided error in the books.
Question 6.
If suspense account does not balance off even after rectification of errors it implies that:
(a) there are some one sided errors only in the books yet to be located.
(b) there are no more errors yet to be located.
(c) there are some two sided errors only yet to be located.
(d) there may be both one sided errors and two sided errors yet to be located.
Answer
Answer: (a) there are some one sided errors only in the books yet to be located.
Question 7.
If wages paid for installation of new machinery is debited to wages account, it is
(a) an error or commission.
(b) an error of principle
(c) a compensating error.
(d) an error of omission.
Answer
Answer: (b) an error of principle.
Question 8.
Trial balance is:
(a) an account.
(b) a statement.
(c) a subsidiary book.
(d) a principal book.
Answer
Answer: (b) a statement.
Question 9.
A trial balance is prepared:
(a) after preparation financial statement.
(b) after recording transactions in subsidiary books.
(c) after posting to ledger is complete.
(d) after posting to ledger is complete and accounts have been balanced.
Answer
Answer: (d) after posting to ledger is complete and accounts have been balanced
Question 10.
What kind of accuracy is tested by Trial balance-
(a) Theoritical
(b) Practical
(c) Arithmetical
(d) None of these.
Answer
Answer: (c) Arithmetical
Question 11.
How many methods are there for preparing Trial Balance –
(a) One
(b) Three
(c) Four
(d) None of these.
Answer
Answer: (c) Four
Question 12.
Which of the following is prepared on the basis of Trial Balance –
(a) Journal
(b) Ledger
(c) Final Accounts
(d) None of these.
Answer
Answer: (c) Final Accounts
Question 13.
Of the two sides of Trial balance does not tally, which Account is opened –
(a) Suspense Account
(b) Personal Account
(c) Real Account
(d) None of these.
Answer
Answer: (a) Suspense Account
Question 14.
The error which can be disclosed by Trial balance-
(a) Error of ommission
(b) Error of principal
(c) Compensatory error
(d) None of these.
Answer
Answer: (d) None of these.
Question 15.
Errors are rectified in this book-
(a) Ledger book
(b) Journal proper
(c) Trial balance
(d) None of these.
Answer
Answer: (b) Journal proper
Question 16.
Errors Committed by omitting entries in the Journal book is called –
(a) Error of commission
(b) Error of principle
(c) Error of omission
(d) None of these.
Answer
Answer: (c) Error of omission
Question 17.
If the trial balance does not tally after many efforts then following Account is opened –
(a) Purchase account
(b) Suspense account
(c) Sales account
(d) None of these.
Answer
Answer: (b) Suspense account
Question 18.
Errors committed due to lack of basis principle of Accounting are called –
(a) Compensating errors
(b) Error of principle
(c) Single sided error
(d) None of these.
Answer
Answer: (b) Error of principle
Fill in the blanks
Question 1.
An item is posted to the wrong side of an account. The error will be of …………….. the amount.
Answer
Answer: double
Question 2.
Errors of principle ………………… affect the Trial Balance.
Answer
Answer: do not
Question 3.
If an accounting error has increased the profit, for correction, profit and loss account, will be ……………..
Answer
Answer: debited
Question 4.
A Trial Balance ……………….. despite the existence of several errors in the books.
Answer
Answer: tallies
Question 5.
Undercasting in wages account is rectified by ………………. suspense account and wages account.
Answer
Answer: crediting, debiting
Question 6.
Overcasting in salaries account is rectified by ………………. suspense account and ……………… salaries account.
Answer
Answer: debiting, crediting
Question 7.
If the Trial Balance does not ……………… it indicates that some ……………….. have been committed.
Answer
Answer: tally, errors
Question 8.
Journal entries passed to correct errors are called ……………..
Answer
Answer: rectifying entries
Question 9.
The last step of preparing Trial Balance is to ascertain the ……………….. of its two amount columns.
Answer
Answer: sum
Question 10.
While preparing ………………… the ledger account balances are carried from the Trial Balance.
Answer
Answer: financial statement
Question 11.
Trial balance is merely a …………… not an Account.
Answer
Answer: Statement
Question 12.
……………. are prepared on the basis of Trial balance.
Answer
Answer: Final Accounts
Question 13.
Trial balance is a test of …………….. Accuracy.
Answer
Answer: Arithmetical
Question 14.
Generally …………… does not form a part of Trial balance.
Answer
Answer: Closing stock
Question 15.
…………… stock is not included in Trial balance.
Answer
Answer: Closing stock
Question 16.
Errors committed while totaling, balancing of Accounts are called ……………
Answer
Answer: Arithmetical errors
Question 17.
………….. errors are disclosed by Trial balance.
Answer
Answer: Arithmetical
Question 18.
If one error nullifies the effect of another error, such errors are called …………….
Answer
Answer: Compensating errors
Question 19.
Suspense Account is a ……………. Account.
Answer
Answer: Temporary
State True or False:
Question 1.
Closing stock appears outside the trial balance.
Answer
Answer: True
Question 2.
A trial balance is not a conclusive proof of accounting accuracy.
Answer
Answer: True
Question 3.
Trial balance is a test of only Arithmetical accuary.
Answer
Answer: True
Question 4.
Trial balance helps to check the principles of Double Entry System.
Answer
Answer: True
Question 5.
Trial balance is a part of ledger.
Answer
Answer: False
Question 6.
Suspense Account is a Permanent Account.
Answer
Answer: False
Question 7.
Single sided errors are generally rectified directly in the ledger accounts before closing the accounts.
Answer
Answer: True
Question 8.
Final accounts are not affected through rectification of errors.
Answer
Answer: False
Question 9.
Single sided errors are rectified through Suspense Account.
Answer
Answer: True
Match the following:
Question 1.
Column A | Column B |
1. Opening stock + purchase + Direct exp. – Closing stock | (a) Suspense A/c |
2. Difference of Trial balance is completely divisible by 9 | (b) Compensatory error |
3. Transactions completely ommitted in recording | (c) Wrong entry of amount |
4. Purchase A/c debited in case of furniture purchased | (d) Cost of goods sold |
5. One error neutralize other | (e) Error of ommission |
6. Difference of trial balance transferred to | (f) Error of principle. |
Answer
Answer:
Column A | Column B |
1. Opening stock + purchase + Direct exp. – Closing stock | (d) Cost of goods sold |
2. Difference of Trial balance is completely divisible by 9 | (c) Wrong entry of amount |
3. Transactions completely ommitted in recording | (e) Error of ommission |
4. Purchase A/c debited in case of furniture purchased | (f) Error of principle. |
5. One error neutralize other | (b) Compensatory error |
6. Difference of trial balance transferred to | (a) Suspense A/c |
Question 2.
Column A | Column B |
1. Undercasting of purchase book | (a) Temporary account |
2. Machine purchased but purchase account debited | (b) Double sided error |
3. Suspense Account | (c) Error of principle |
4. Effect on two or more Accounts. | (d) Arithmetical error. |
Answer
Answer:
Column A | Column B |
1. Undercasting of purchase book | (d) Arithmetical error. |
2. Machine purchased but purchase account debited | (c) Error of principle |
3. Suspense Account | (a) Temporary account |
4. Effect on two or more Accounts. | (b) Double sided error |
Answer in one word/sentence:
Question 1.
“A Trial balance is a statement of debit and Credit Balances Extracted from the ledger with a view to test the arithmetical accuracy of the books.” Who said this?
Answer
Answer: J.R. Batliboi
Question 2.
Mention any account which can show Debit or Credit Balance.
Answer
Answer: Rent
Question 3.
Debtor’s Accounts always show which balance?
Answer
Answer: Debit
Question 4.
What Balance is shown by Drawing Account?
Answer
Answer: Debit
Question 5.
How many methods are there for preparing trial balance?
Answer
Answer: Four methods
Question 6.
Is trial balance Ultimately proof of accuracy of accounts?
Answer
Answer: No
Question 7.
What is the nature of suspense A/c ?
Answer
Answer: Fluctuating
Question 8.
The entries passed in the Journal proper for rectifying entries are called.
Answer
Answer: Rectifying entries
Question 9.
The total of purchase book was written Rs. 200 instead of Rs. 2,000. This is an example of.
Answer
Answer: Error of casting
Question 10.
When two errors nullify each others effect, then such errors are called.
Answer
Answer: Compensating errors
Question 11.
When are rectifying entries passed?
Answer
Answer: Beginning of the year
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