Understanding Accounting Errors Quiz

Create an informative illustration depicting various accounting errors, with elements like ledgers, calculators, and diagrams that show the concept of double entry accounting. Use a clean, professional style suitable for an educational quiz.

Understanding Accounting Errors Quiz

Test your knowledge of common accounting errors with this engaging quiz! Whether you're a student, teacher, or professional, this quiz will help you identify and understand various types of errors in accounting practices.

Key features:

5 thought-provoking questions
Multiple choice answers to enhance learning
Instant feedback on your selections

5 Questions1 MinutesCreated by CountingCoins42

An error of omission is: (Pick two)

When an incorrect account is used for debit and credit entry.

An error that will effect the trial balance

Where only half of the double entry has been made.

An error that will not effect the trial balance

Where no debit or credit entry has been made.

Where two or more errors have been made that cancel each other out.

The purchase of a new computer has been entered into the office expenses account. All other entries are correct. This is an example of:

An error of commission

An error of omission

An error of principle

An error of original entry

The sales figure in the Sales day book has been entered incorrectly. Select the correct two statements:

This is an example of an error of Original entry.

This is as an example of unbalanced double entry.

This is an example of an error of commission

This is an example of Single entry transaction

THis error will not effect the trial balance.

This error will effect the trial balance.

If an account balance has been incorrectly calculated this:

Will effect the trial balance.

Will not effect the trial balance.

A BACS payment to a credit supplier was debited to the bank account and credited to the Purchase ledger control account. Select the two correct statements.

This is an example of an error of commission.

This is an example of an error of principle.

This is an example of a reversal of entries

This is an example of unbalance double entry

This error will effect the trial balance

This error will not effect the trial balance.

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Understanding Accounting Errors Quiz

Understanding Accounting Errors Quiz

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