Class 11 Accountancy - Chapter Trail Balance and Rectification of Errors NCERT Solutions | Cash sales to Radhika 15,000 was sh

Which of 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 returns book.

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.

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.

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.

Which of the following is not an error of commission:

(a) Overcasting of sales book.
(b) Credit sales to Ramesh  5,000 credited to his account.
(c) Wrong balancing of machinery account.
(d) Cash sales not recorded in cash book.

Depreciation written off on furniture  1,500 was not posted to depreciation account.
This is an error of ..................................
The wrong effect has been:

The correct effect should have been:

The rectification entry will be.

Trial balance is:

(a) An account.
(b) A statement.
(c) A subsidiary book.
(d) A principal book.

Record the rectification entry for the following transactions:

Credit sales to Rajni 5,000 recorded in Purchases book:
This is an error of ..........................................
State the wrong entry recorded in the book of accounts

Correct effect should have been:

The rectification entry will be:

Tick the Correct Answer

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.

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.

Name any two types of commonly used negotiable instruments.

Why is it necessary to record the adjusting entries in the preparation of final accounts?

State the meaning of incomplete records?

What is ‘Depreciation’?

Briefly state how the cash book is both journal and a ledger.

State the four basic requirements of a database applications.

Define accounting.

State the different elements of a computer system.

Why is it necessary for accountants to assume that business entity will remain a going concern?

State the need for the preparation of bank reconciliation statement?

Fill in the blanks:
1. Issued a cheque for ₹8,000 to pay rent. The account to be debited is ............
2. Collected ₹35,000 from debtors. The account to be credited is ............
3. Purchased office stationary for ₹18,000. The account to be credited is ...........
4. Purchased new machine for ₹1,70,000 and issued cheque for the same.
The account to be debited is ............
5. Issued cheque for ₹70,000 to pay off on of the creditors. The account to be debited is ............
6. Returned damaged office stationary and received ₹50,000. The account to be credited is ............
7. Provided services for ₹65,000 on credit. The account to be debited is ...........

Credit purchase, during the year is ascertained by preparing :

  (a) Total creditors account       (b) Total debtors account
  (c) Cash account                     (d) Opening statement of affairs

List the various advantages of computerised accounting systems.

What is a balance sheet. What are its characteristics?

Give four examples each of ‘provision’ and ‘reserves’.

Which of the following answers properly classifies these commonly used accounts:
(1) Building (2) Wages (3) Credit sales (4) Credit purchases (5) Electricity charges due but not yet paid (outstanding electricity bills) (6) Godown rent paid in advance (prepaid godown rent) (7) Sales (8) Fresh capital introduced (9) Drawings (10) Discount paid
      Assets      Liabilities      Capital      Revenue      Expense
(i)     5,4,         3,                  9,6            2,10              8,7
(ii)    1, 6         4, 5               8               7, 3               2,9,10
(iii)   2,10,4     4,6                8               7,5                1,3,9

Total of these transactions is posted in purchase account :
(i) Purchase of furniture
(ii) Cash and credit purchase
(iii) Purchases return
(iv) Purchase of stationery

Double entry accounting requires that :
(i) All transactions that create debits to asset accounts must create credits to liability or capital accounts;
(ii) A transaction that requires a debit to a liability account require a credit to an asset account;
(iii) Every transaction must be recorded with equal debits equal total credits.

Write the difference between return Inwards and return ouwards.

A concept that a business enterprise will not be sold or liquidated in the near future is known as :
(a) Going concern
(b) Economic entity
(c) Monetary unit
(d) None of the above