Have an account?
Skip to Content
Build your own quiz
Suggestions for you
14 questions
Show Answers
See Preview
- 1. Multiple Choice
1. Which of these describes the error: Transaction completely omitted
error of commission
error of omission
error of principle
error of original entry
- 2. Multiple Choice
Transaction entered in wrong account and wrong class
error of commission
error of omission
error of principle
error of original entry
- 3. Multiple Choice
Transaction entered in wrong account but same class
a. error of commission
b. error of omission
c. error of principle
d. error of original entry
- 4. Multiple Choice
Transaction entered in correct account but with incorrect figure
a. error of commission
b. error of omission
c. error of principle
d. error of original entry
- 5. Multiple Choice
Hiro wishes to increase his provision for doubtful debts at the end of the year. How does he record this increase?
Debit entry credit entry
bad debts provision for doubtful debts
Debit entry credit entry
provision for doubtful debts bad debts
Debit entry credit entry
income statement provision for doubtful debts
Debit entry credit entry
provision for doubtful debts income statement
- 6. Multiple Choice
Transaction entered in the opposite side of both the accounts
a. error of commission
b. error of original entry
c. error of principle
d. complete reversal of entry
- 7. Multiple Choice
State the type of error taking place in each of the scenarios (7-9) below:
The Coach is in business trading goods on credit and Shakib is one of the trade receivables. The following errors were discovered in the books of the Coach:
A cash payment of office expenses £600 by The Coach had been entered into the debit side of Shakib account.
a. error of commission
b. error of omission
c. error of principle
d. error of original entry
- 8. Multiple Choice
Sales of £450 worth of goods to Shakib had been entered in error into the account of Sameer.
a. error of commission
b. error of omission
c. error of principle
d. error of original entry
- 9. Multiple Choice
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 principle
d. error of original entry
- 10. Multiple Choice
What are the journal entries to correct the following errors for 10 & 14 question:
A payment by Shakib of £2450 with £50 discount allowed had been correctly recorded in the cash book of The Coach but incorrectly recorded in Shakib’s account. The discount allowed was debited in Shakib’s account
a. Suspense £900 DR, The Coach £900 CR
b. office expense £600 DR, The Coach £600 CR
c. Suspense £100 DR, Shakib £100 CR
d. The Coach £100 DR, Suspense £100 CR
- 11. Multiple Choice
Sales of £3400 had been correctly entered into sales account of The Coach. This transaction had been recorded as £4300 in Shakib’s account.
a. Suspense £900 DR, Shakib £900 CR
b. office expense £600 DR, Shakib £600 CR
c. Suspense £100 DR, Shakib £100 CR
d. The Coach £100 DR, Suspense £100 CR
- 12. Multiple Choice
The Coach is in business trading goods on credit and Shakib is one of the trade receivables. The following errors were discovered in the books of the Coach:
A cash payment of office expenses £600 by The Coach had been entered into the debit side of Shakib account.
choose the journal entry needed to correct the errors.
a. Suspense £900 DR, Shakib £900 CR
b. office expense £600 DR, Shakib £600 CR
c. Suspense £100 DR, Shakib £100 CR
d. Shakib £100 DR, Suspense £100 CR
- 13. Multiple Choice
Sales of £450 worth of goods to Shakib had been entered in error into the account of Sameer. Choose the journal entry needed to correct the errors.
a. Shakib £1750 DR, Sales £1750 CR
b. office expense £600 DR, Shakib £600 CR
c. Sameer £100 DR, Shakib £100 CR
d. Shakib £450 DR, Sameer £450 CR
- 14. Multiple Choice
A further sale of goods to Shakib of £1750 had not been recorded in the books of The Coach. Choose the journal entry needed to correct the errors.
a. Shakib £1750 DR, Sales £1750 CR
b. office expense £600 DR, Shakib £600 CR
c. Suspense £100 DR, Shakib £100 CR
d. Shakib £450 DR, Sameer £450 CR
- Answer choicesTagsAnswer choicesTags