CPT Section Fundamentals of Accounting Chapter 2 Unit 8 CA V.K.Jain

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CPT Section Fundamentals of Accounting Chapter 2 Unit 8 CA V.K.Jain

(a) Error of Commission (b) Error of Omission (c) Compensating error (d) Error of Principal Right Answer: (d)

(a) Debit is more by Rs. 13200 (b) Debit is more by Rs. 7500 (c) Credit is more by Rs. 5700 (d) credit is less by Rs. 7500 Right Answer: (a)

(a) An increase in net profit by Rs. 20,000 (b) A decrease in net profit by Rs. 20,000 (c) An increase in net profit by Rs. 40,000 (d) No change in profit Right Answer: (b)

(a) Suspense a/c Dr. 4,000 To P&L Adj.a/c 4,000 (b) Sales a/c Dr. 4,000 To Purchase a/c 4,000 (c ) Suspense a/c Dr. 8,000 To Purchase a/c 4,000 To Sales a/c 4,000 (d ) Suspense a/c Dr. 8,000 To P&L Adj.a/c 8,000 Right Answer: (d)

(a)suspense a/c Dr. 1,000 To P&L Adjustment a/c 1,000 (b) Sales a/c Dr. 1,000 To Suspense a/c 1,000 (c) Suspense a/c Dr. 2,000 To P&L Adjustment a/c 1,000 To sales a/c 1,000 (d )Suspense a/c Dr. 1,000 To Sales a/c 1,000 Right Answer: (A)

(a)suspense a/c Dr. 100 To Discount a/c 100 (b) Discount a/c Dr. 2,130 To P&L Adjustment a/c 2,130 (c) Suspense a/c Dr. 100 To P&L Adjustment a/c 100 (d) Suspense a/c Dr. 100 Discount a/c Dr. 2,130 To P&L Adjustment a/c 2,230 Right Answer: (c)

(a) P&L Adjustment a/c Dr. 8,000 To Office expanses a/c 8,000 (b) Computer a/c Dr. 8,000 To Office expanses a/c 8,000 (c) Computer a/c Dr. 8,000 To suspense a/c 8,000 (d) Office expanses a/c Dr. 8,000 To Computer a/c 8,000 Right Answer: (B)

(a) Purchase a/c Dr. 1,235 To Suspense a/c 1,235 (b) Suspense a/c Dr. 1,325 To Purchase a/c 1,325 (c) Purchase a/c Dr. 90 To Suspense a/c 90 (d) Suspense a/c Dr. 90 To Purchase a/c 90 Right Answer: (d)

(a) Drawing a/c Dr. 30 To Suspense a/c 30 (b) Drawing a/c Dr. 30 To Personal a/c 30 (c) Drawing a/c Dr. 30 To Purchase a/c 30 (d) Drawing a/c Dr. 30 To Capital a/c 30 Right Answer: (c)

(a) Purchase a/c Dr. 1,000 To Suspense a/c 1,000 (c) Suspense a/c Dr. 1,000 To Purchase a/c 1,000 (b) Purchase a/c Dr. 1,000 To P&L Adjustment a/c 1,000 (d) P&L Adj. a/c Dr. 1,000 To Suspense a/c 1,000 Right Answer: (d)

(a) Commission a/c Dr. 80 To P&L Adjustment a/c 80 (b) Commission a/c Dr. 80 (c) Suspense a/c Dr. 160 To Interest a/c 80 To Commission a/c 80 To Interest a/c 80 (d) Interest a/c Dr. 80 To Commission a/c 80 Right Answer: (B)

(a) Sales of Rs. 500 was written in Purchase book (b) Wages paid to Mohan have been debited to his account (c ) Total of sales book has not been posted to sales account (d) None of these Right Answer: (c)

(a) Rs. 600 received from Ganpat have been debited to his account (b) Purchase of Rs.2,000 has been entered in the sales journal (c) Repairs to building have been debited to building account (d) None of these Right Answer: (c)

(a) Correct totaling of the balance sheet (b ) The trial balance to agree (c) Any of the above (d) None of these Right Answer: (b)

a) Repairs to Building has been debited to Building account (b) The total of Purchase book is Rs. 1,000, short (c) Freight paid on new Machinery have been debited to Freight A/c d) None of these Right Answer: (B)

(a) Wrong balancing of an account (b) Writing an amount in the wrong account but on the correct side (c) Wrong totaling of an account (d) None of these Right Answer: (B)

(a) Repairs A/c (b) Furniture A/c (c) Wages A/c (d) None of these Right Answer: (B)

(a) Error of Commission (b) Error of Omission (c) Error of Principle (d) None of these Right Answer: (c)

(a) Repairs A/c (b) Machinery A/c (c) Installation expanses A/c (d) None of these Right Answer: (B)

(a) Debtors A/c (b) Drawings A/c (c) Installation expanses A/c (d) None of these Right Answer: (B)

(a) Credit (b) Debit (c) Any (d) None of these Right Answer: (A)

(a) Credit (b) Debit (c) Any (d) None of these Right Answer: (B)

(a) Asset (b) Liabilities (c) Any side (d) None of these Right Answer: (A)

(a) Asset (b) Liabilities (c) Any side (d) None of these Right Answer: (B)

(a) Profit will be decreased or loss will be increased (b) Profit will be increased or loss will be decreased (c) No effect on the profit or loss (d) None of these Right Answer: (A)

(a) Profit will be decreased or loss will be increased (b) Profit will be increased or loss will be decreased (c) No effect on the profit or loss (d) None of these Right Answer: (B)

(a) No effect (b) Profit will be increased by 71 (c) Profit will be decreased by 71 (d) None of these Right Answer: (B)

(a) No effect (b) Profit will be increased by 7,000 (c) Profit will be decreased by 7,000 (d) None of these Right Answer: (A)

(a) Ameya will be debited by Rs. 400 (b) Returns inwards will be credited by Rs. 200 (c) Returns outwards will be credited by Rs. 200 (d) All of the above Right Answer: (D)

(a) Increase in gross profit (b) decrease in gross profit (c) No effect on gross profit (d) Either (a) or (b) Right Answer: (A)

Trial balance would show the debit side to be Rs. 1,000 more than the credit side Trial balance would show the credit side to be Rs. 1,000 more than the debit side The debit side of the trial balance will be Rs. 2,000 more than the credit side The credit side of the trial balance will be Rs. 2,000 more than the debit side Right Answer: (C)

(a) Error of Commission (b) Error of Omission (c) Compensating error (d) None of these Right Answer: (A)

(a) Repairs A/c (b) Machinery A/c (c) capital A/c (d) Furniture a/c Right Answer: (B)

(a) Repairs A/c (b) Furniture A/c (c) cash A/c (d) bank a/c Right Answer: (B)

(a) Charity A/c (b) sales A/c (c) Purchase A/c (d) Cash a/c Right Answer: (C)

(a) Sales A/c (b) Proprietor s personal expanses A/c (c) Purchase A/c (d) Expanses A/c Right Answer: (C)

(a) Locating Error of Commission (b) Locating Error of Principle (c) Locating clerical errors (d) All of the above Right Answer: (C)

(a) Bad debts Recovered A/c (b) Smith s A/c (c) Cash A/c (d) Bad debts A/c Right Answer: (A)

(a) Sales A/c (b) Furniture A/c (c) Purchase A/c (d) Cash A/c Right Answer: (B)

(a) Error of omission (b) Error of Commission (c) Error of principal (d) Compensating error Right Answer: (A)

(a) Error of omission (b) Error of Commission (c) Error of principal (d) Compensating error Right Answer: (B)

(a) Error of omission (b) Error of Commission (c) Error of principal (d) Compensating error Right Answer: (A)

(a) Error of omission (b) Error of Commission (c) Error of principal (d) Compensating error Right Answer: (B)

(a) Error of omission (b) Error of Commission (c) Error of principal (d) Compensating error Right Answer: (C)

(a) Error of omission (b) Error of Commission (c) Error of principal (d) If it is not an error Right Answer: (C)

(a) Error of omission (b) Error of Commission (c) Error of principal (d) If it is not an error Right Answer: (A)

(a) Is an Error of Commission (b) will affect the Trial Balance (c) Will affect the Net Profit (d) None of these Right Answer: (D)

(a) Is an Error of Commission (b) will affect the Trial Balance (c) will affect the Net Profit (d) None of these Right Answer: (D)

(a) Is an Error of Commission (b) will affect the Trial Balance (c) will affect the Net Profit (d) None of these Right Answer: (D)

Sales A/c (b) Proprietor s personal A/c (c) Purchase A/c (d) Cash A/c Right Answer: (D)

Thanks for your attention Presented by CA V.K.JAIN

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