Rectification of Errors
Commerce ⇒ Accountancy
Rectification of Errors starts at 11 and continues till grade 12.
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See sample questions for grade 11
A credit sale of Rs. 2,000 to Mr. X was wrongly credited to Mr. X’s account. What is the rectification entry?
A payment of Rs. 500 for stationery was debited to Furniture Account. What is the rectification entry?
A purchase of goods worth Rs. 5,000 was recorded in the sales book. What type of error is this?
A sum of Rs. 1,000 received from Ram was credited to Shyam. What type of error is this?
A sum of Rs. 1,200 paid for rent was debited to the repairs account. What is the rectification entry?
A sum of Rs. 2,000 paid for wages was debited to the salaries account. What is the rectification entry?
A sum of Rs. 2,500 received from a debtor was not posted to his account. What is the rectification entry?
A sum of Rs. 3,000 received from a customer was posted to the credit of his account. What is the rectification entry?
Describe the difference between one-sided and two-sided errors with examples.
Describe the steps to rectify an error detected after the trial balance has been prepared.
Explain the difference between an error of omission and an error of commission.
Explain the process of rectifying an error after the preparation of the final accounts.
Explain the role of the suspense account in rectification of errors.
Explain why compensating errors do not affect the trial balance.
What is a compensating error? Give an example.
What is meant by rectification of errors in accounting?
