Errors in trial balance

How many errors are there that will not affect Trial Balance?

• 5

• 6

• 1

• 10

A credit purchase of goods $1200 from Calvin trading was recorded in Clara trading account. Name the error.

• Error of commission

• Error of omission

• Error of principle

• Compensating error

A cheque payment of $500 for rent was not recorded. Name the error.

• Error of commission

• Error of omission

• Error of principle

• Compensating error

When there is error with credit entry not equal to credit entry,

• trial balance will not agree

• trial balance will agree

• supense account will be appeared

• there is no suspense account

A suspense account is used to rectify?

• Errors affecting trial balance agreement

• Errors not affecting trial balance agreement

• Both types of errors

• None of these

Which of the following is not an example of error  of commission 

• Errors of Wrong totalling 
• Identification of capital expenditure as revenue expense 
• Errors of wrong carry forwarding 
• None of these 

State true or false : 
If sales , purchases return, liability or income are undercasted , suspense account will be debited and related account will be credited.

• True
• False 

A Trial Balance has no limitations -

• True

• False

Nature of Long-term borrowing (bank loan): ____.

• DR

• CR

Nature of Accrued expenses: ____. (is a form of current liability)

• DR

• CR