Accounting Mcqs

Q.  Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________?

a. Error of principle
b. Error of commission
c. Error of omission
d. Error of duplication


ANSWER: See Answer
 
No explanation is available for this question!
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MCQs:  A brief explanation recorded below every entry in general journal is commonly known as__________?
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MCQs:  Credit purchase of plant and machinery is recorded in which of the following journals?
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MCQs:  Debit note is the basis for recording a transaction in which of the following journals?
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MCQs:  SALE of old furniture” will be recorded in which of the following specialised journals?
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MCQs:  Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?
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MCQs:  Specialized journals are more adequate for which TYPE OF BUSINESSES?
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MCQs:  Which of the following is known as an evidence that a transaction took place?
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MCQs:  BUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?
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MCQs:  Credit memo or credit note No. is entered in which of the following journal?
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MCQs:  In accounting an Economic event is referred to as:
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MCQs:  Identify the correct sequence of accounting process
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MCQs:  Bookkeeping mainly concerns with which part of accounting process?
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MCQs:  Financial accounting provides financial information to all of the following external users except:
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MCQs:  For which step of accounting process the accountants of business entity prepare financial statements?
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MCQs:  Keeping the log of financial information in books of original entries is called__________?
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MCQs:  Auditing is what?
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MCQs:  Which of the following is the external user of financial statements?
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MCQs:  Which of the following is the internal user of financial statements?
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MCQs:  _________ is the first phase of accounting cycle?
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MCQs:  Financial statements differ from management account because
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