Which of the following is true??

Accounting Mcqs
BILAL KHATTAK0

A. Error of casting affects personal accounts
B. Omission of a transaction from a subsidiary record affects only one account
C. Error of carry forward affects two accounts 
D. Error of principle involves an incorrect allocation of expenditure or receipt between capital and revenue 

Related Mcqs:

  1. Which of the following is not correct about Errors??
  2. Which of the following statements is /are true??
  3. Which of the following errors affects the agreement of a Trial Balance??
  4. Debit balance = Credit balance in a trial balance indicates that:?
  5. Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________??
  6. A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________??
  7. Buildings account is debited with an amount towards repairs. This is an example of??
  8. Capital expenditure means
  9. Which of the following statements is incorrect regarding capital account??
  10. The maximum allowable limit that a measurement may vary from the true value is called

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