If any transaction is not recorded in the primary books the same is recorded in _______

Related MCQs

• A few errors committed in Ahhiwalia's books of account are given below. State which errors would affect the Trial Balance. (a) Sales of `950 to Ram completely omitted from books of account (b) Purchases of `720 from Shyam entered in the purchases journal as `700 (c) Purchases Journal is overcast by `1,000 (d) Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal's account (f) Bank overdraft shown under debit column in the Trial Balance (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq (h) Wages paid for installation of machinery debited to wages account
• Transaction& events not capable of being expressed in terms of money are not to be recorded in accounting due to
• ` 5,500 incurred on sundry expenses inadvertently recorded in the books of account as ` 550. This is an example of —
• Which goodwill is recorded in the books of Accounts Sol:
• According to the money measurement concept, the following will be recorded in the books of account of the business:
• What is the order in which the accounting transactions and events are recorded in the books
• In single entry two-fold aspect of transaction are not recorded, so it is:
• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting
• Which of the following statements is/are true? (i) An error in casting the subsidiary books is an error of commission (ii) An error in wrong casting of the sales day book will not affect the personal accounts of debtors (iii) Mistake in transferring the balance of an account to the Trial Balance will not affect the agreement of the Trial Balance (iv) The mistake of treating a liability as an income or vice versa will not affect the agreement of a Trial Balance
• If both the aspects of a same transaction appear in one account, it is called _______entry