11th Principles of Accounting MCQS Chapter 6

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11th Principles of Accounting MCQS
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Errors which affect one account can be
errors of posting
none of these
errors of omission
errors of principle

Error of principle involves an incorrect allocation of expenditure or receipt between.
Capital and capitalized
Revenue and revenue
Revenue and deferred revenue
Capital and revenue

Goods purchased from Robin have been posted to Rahim account, it is an:
Error of casting
Error of omission
Error of posting
Error of commission

Suspense means
none of these

Some expenses are incurred at the time of the sate of an asset. The Amount will be debited to:
Purchases account
Expenses account
Assets account
Cash account

The process of totaling the data at the end of the period is called

The revenue profit should be transferred to:
Profit and loss account
None of these
Balance sheet
Trading account

A receipt is revenue receipt because
the amount is small
it is received in the accounting year
it relates to routine activity of business
both b, c

An error completely omitted to be entered in the journal
error of casting
partial error
complete error
error of posting

Receipts which are non-recurring by nature:
Capital receipts
Revenue receipts
Short term receipts
Capital profit

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