会计错误纠正测验

Acquisition of factory machinery on credit from Millet Enterprise was omitted from the books. Which of the following is the correct entry for the above error?

• Debit: Machinery; Credit: Trade Payable - Millet Enterprise

• Debit: Machinery; Credit: Other Payable - Millet Enterprise

After financial statements were prepared, it is discovered that an invoice for RM 4,000 issued by a supplier has not been accounted for. What is the effect on the company's financial statements?

• Liability understated and Profit understated

• Liability overstated and Profit overstated

• Liability understated and Profit overstated

• Liability overstated and Profit understated

Fixtures was undercast by RM 10. Interest Income was also undercast by the same amount. This error is known as ______.

• Compensating Error

• Error Of Original Entry

• Reversal Error

• Error Of Principle

The trial balance totals are: Debit RM 200,000 and Credit RM 200,100. Which error could have caused the difference?

• Credit sale has not been recorded

• Cash sale has only been recorded in Sales account

• Credit sale has only been recorded in personal account

• Credit purchase has only been recorded in Purchases account

An invoice of RM 197 for goods sold to a customer was posted to the personal account as RM 97. Which of the following is the correct entry for the above error?

• Debit: Trade Receivable RM 197 Credit: Suspense RM 197

• Debit: Trade Receivable RM 100 Credit: Suspense RM 100

• Debit: Suspense RM 100 Credit: Trade Receivable RM 100

• Debit: Suspense RM 97 Credit: Trade Receivable RM 97

There is a debit balance in Suspense account when __________.

• debits exceeding credits in Trial Balance

• credits exceeding debits in Trial Balance

In which of the following circumstances would a Suspense account not be used?

• Both side of a double entry are made but to incorrect accounts

• Incorrect addition in specialised journal

• Incorrect listing in Trial Balance

• Omitting one side of transaction

When a Trial Balance fails to agree, the difference is entered in the __________ .

• Control account

• Suspense account

• Personal account

• Real account

Which one of the following error would be revealed by the Trial Balance ?

• Error of reversal

• Error of omission

• Error of commission

• Error in amount