FORMATIVE ASSESSMENT TRIAL BALANCE

Decide NORMAL BALANCE for the account below.

BUILDING

• DEBIT

• CREDIT

Decide NORMAL BALANCE for the account below.

SALARY

• DEBIT

• CREDIT

Decide NORMAL BALANCE for the account below.

MORTGAGE

• DEBIT

• CREDIT

Decide NORMAL BALANCE for the account below.

INTEREST RECEIVED

• DEBIT

• CREDIT

Decide NORMAL BALANCE for the account below.

CAPITAL

• DEBIT

• CREDIT

The following are the purposes of preparing Trial Balance EXCEPT:

• Check the accuracy of calculations

• Verify the accuracy of semi-entries

• Verify the accuracy of posting from the book of prime entry to ledgers

• Prepare financial statements

The following are the ERRORS AFFECTING THE TRIAL BALANCE AGREEMENT,

EXCEPT:

• Double entry

• Errors in Transposition

• Errors in Addition

• Errors in Trial Balance

The following are the ERRORS NOT AFFECTING THE TRIAL BALANCE AGREEMENT,

EXCEPT:

• Error of Omission

• Errors in Commission

• Errors in Principle

• Errors in Trial Balance

A credit sales of RM15,000 to Rashid was credited to sales account but wrongly debited in Rashidi account (a debtor).
What is the type of error for the above situation?

• Error of Omission

• Compensating Error

• Errors of Original Entry

• Errors of Commission

Sarah, a bookkeeper has posted an invoice for machine repairs to the machinery account at cost.

What term is used to describe this type of error?

• Error of Principle

• Error of Transposition

• Errors of Commission

• Errors of Omission