Journal entries passed to correct the errors are called
A) Closing entry
B) Opening entries
C) Adjusting entry
D) Rectifying entry
Correct Answer:
Verified
Q7: Small payments are entered in
A)Simple cashbook
B)Petty cash
Q8: Imprest system is used in
A)Petty cashbook
B)Simple cashbook
C)Double
Q9: An error which violates the fundamentals of
Q10: Which error does not affect the trial
Q11: The account to which the difference in
Q13: Errors cancelled by themselves are called
A)Compensating errors
B)Errors
Q14: Rs 280 received from Roy is credited
Q15: A suspense account is created when the
Q16: The balance of trading account is called
A)Balance
Q17: Advertisement is a
A)Revenue expense
B)Capital expense
C)Day today expense
D)Deferred
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