Errors in carry forward of closing balances from one year to another which affects

Related MCQs

• Which of these errors affects only one account?
• Which of the following errors affects the agreement of a trial balance?
• Which balance is not considered for closing entries on t he basis of trial balance for transferring to Trading and Profit & Loss Account?
• When opening stock 50,000; closing stock 40,000; purchases 1,90,000 profit margin is 16.67% on sales, the sales are:
• Closing stock appearing in the trial balance is shown in
• The trial balance shows closing stock of Rs.30,000 .it will be recorded in ………………..
• Whenever errors are noticed in the accounting records, they should be rectified.
• Income and Expenditure account shows subscription at 2,50,000. Subscriptions accrued in the beginning of the year and at the end of the year were 25,000 and 37,500 respectively. The amount of subscriptions received appearing in re ceipts and payments account will be
• Profit and loss account is prepared for a period of one year by following the concept of
• At the end of the year Bad Debts Recovered Account is