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Home Questions G5DHX3WMUM
Target Exam

CUET

Subject

Accountancy

Chapter

Trial Balance and Rectification of Errors

Question:

Match List – I with List – II.

LIST I

LIST II

 A. Error of Principle

 I. Credit sales of goods to Rajni recorded in
sales book but not posted to Rajni's A/c

 B. Compensating Error

 II. Total of purchases book is carried forward
as ₹1000 instead of ₹10,000

 C. Error of Omission

 III. Commission paid on purchase of land
is debited to Commission A/c

 D. Error of Commission

 IV.  A's A/c is debited with ₹100 instead of ₹1000
whereas B's A/c is debited with ₹1000 instead of ₹100

Choose the correct answer from the options given below :

Options:

A-IV, B-III, C-I, D-II

A-III, B-IV, C-II, D-I

A-IV, B-III, C-II, D-I

A-III, B-IV, C-I, D-II

Correct Answer:

A-III, B-IV, C-I, D-II

Explanation:

The correct answer is option 4- A-III, B-IV, C-I, D-II.

LIST I

LIST II

 A. Error of Principle

 III. Commission paid on purchase of land is debited to Commission A/c

 B. Compensating Error

 IV.  A's A/c is debited with ₹100 instead of ₹1000
whereas B's A/c is debited with ₹1000 instead of ₹100

 C. Error of Omission

 I. Credit sales of goods to Rajni recorded in
sales book but not posted to Rajni's A/c

 D. Error of Commission

 II. Total of purchases book is carried forward
as ₹1000 instead of ₹10,000

 

* Error of Principle- Commission paid on purchase of land is debited to Commission A/c- It should be debited to land as it is related with purchase of land.

* Compensating Error- A's A/c is debited with ₹100 instead of ₹1000 whereas B's A/c is debited with ₹1000 instead of ₹100. This will make nil effect in the company accounts. One error is compensated by other error.

* Error of Omission- Credit sales of goods to Rajni recorded in sales book but not posted to Rajni's A/c. This is partial omission as amount is not posted to Rajni's A/c.

* Error of Commission- Total of purchases book is carried forward as ₹1000 instead of ₹10,000. This is error in carrying forward which is a commission error.

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