Which of the following statements is /are true??

Accounting Mcqs
BILAL KHATTAK0

A. Entering wrong amount in the subsidiary book affects the agreement of the Trial Balance
B. Undercasting or overcastting of a subsidiary book is an example or error of commission
C. Errors of principle do not affect the agreement of Trial Balance 
D. Both
B. and
C. above 

Related Mcqs:

  1. Which of the following is true??
  2. Which of the following statements is true??
  3. Which of the following statements is/are true ??
  4. Which of the following statements is correct about Trial Balance??
  5. Which of the following is not correct about Errors??
  6. Which of these errors affect two or more accounts?
  7. Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________??
  8. The accountant of Leo Ltd. recorded a payment by cheque to a creditor for supply of materials as 1,340.56. The bank recorded the cheque at its correct amount of 3,140.56. The Company has not passed any rectification entries and the error is not detected through the bank reconciliation. The impact of this error is?
  9. A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________??
  10. Which of the following is not true about opinion on financial statements??

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