Chapter Exam

Chapter 10 ACCOUNTANCY : Trial Balance and Rectification of Errors — Online MCQ Test

Q: If a transaction is completely omitted from the books of original entry, it is called an error of:

Answer: C. Omission — An error of complete omission happens when a transaction is totally missed, meaning it is not recorded in the journal or subsidiary books at all.

Q: Which item, when increased, is entered on the credit side of the Trial Balance?

Answer: A. Outstanding Expenses — Outstanding expenses are liabilities. Liabilities increase on the credit side, appearing as a credit balance in the Trial Balance.

Q: A sales invoice for Rs. 800 was entered in the sales book as Rs. 80. The rectification entry involves:

Answer: B. Debit Customer Rs. 720, Credit Sales Rs. 720 — Under-recording a sale requires an additional entry of the difference (800 - 80 = 720) to the customer and sales accounts.

COMMERCE · CLASS 11 INTER I YEAR · Andhra State Board

Practice Chapter 10 ACCOUNTANCY : Trial Balance and Rectification of Errors with a free chapter-wise online MCQ test for Andhra State Board CLASS 11 INTER I YEAR COMMERCE. This chapter covers: This chapter details verifying arithmetical accuracy through trial balances identifying accounting errors and recording rectification entries.. AI-generated questions from basic to board-exam level, with instant results and explanations.

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Chapter 10 ACCOUNTANCY : Trial Balance and Rectification of Errors — Important Questions & Answers (FAQ)

Frequently asked questions from Andhra State Board CLASS 11 INTER I YEAR COMMERCE — Chapter 10 ACCOUNTANCY : Trial Balance and Rectification of Errors, with answers and explanations. These are sample questions; the exam has its own separate question set.

What is the primary purpose of preparing a Trial Balance?

A. To check the arithmetical accuracy of ledger accounts ✓
B. To determine the net profit of the business
C. To calculate the total assets of the firm
D. To record daily transactions

Answer: A. To check the arithmetical accuracy of ledger accounts
A Trial Balance is a statement prepared to verify that the total debits equal total credits, thereby checking the arithmetical accuracy of the ledger.

Which of the following errors is an error of principle?

A. Omission of a transaction
B. Posting purchase of furniture to the Purchases account ✓
C. Writing a different amount in the journal
D. Posting to the wrong side of an account

Answer: B. Posting purchase of furniture to the Purchases account
An error of principle occurs when accounting rules are violated, such as treating a capital expenditure (furniture) as a revenue expenditure (purchases).

If a transaction is completely omitted from the books of original entry, it is called an error of:

A. Principle
B. Commission
C. Omission ✓
D. Compensating error

Answer: C. Omission
An error of complete omission happens when a transaction is totally missed, meaning it is not recorded in the journal or subsidiary books at all.

Which item, when increased, is entered on the credit side of the Trial Balance?

A. Outstanding Expenses ✓
B. Prepaid Insurance
C. Accrued Income
D. Cash in Hand

Answer: A. Outstanding Expenses
Outstanding expenses are liabilities. Liabilities increase on the credit side, appearing as a credit balance in the Trial Balance.

A sales invoice for Rs. 800 was entered in the sales book as Rs. 80. The rectification entry involves:

A. Debit Sales Rs. 720
B. Debit Customer Rs. 720, Credit Sales Rs. 720 ✓
C. Debit Sales Rs. 800, Credit Customer Rs. 800
D. Debit Customer Rs. 80, Credit Sales Rs. 80

Answer: B. Debit Customer Rs. 720, Credit Sales Rs. 720
Under-recording a sale requires an additional entry of the difference (800 - 80 = 720) to the customer and sales accounts.

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