1561. If a transaction has been journalized but has been posted wrongly in the ledger account it is an :

A. Error of posting *
B. Error of principle
C. Error of omission
D. Error of commission

1562. Goods purchased from Robin for 600 $ have been posted to rahim account , it is an :

A. Error of omission
B. Error of casting
C. Error of posting *
D. Error of commission

1563. If the error occur due to short casting or excess occur due to short casting or excess casting in any subsidiary book or in any account in the ledger, it is an :

A. Error of posting
B. Error of casting *
C. Error of omission
D. Error of commission

1564. Compensation errors, arises when :

A. Any transaction is left wholly or partially
B. All or part of a transaction is incorrectly recorded.
C. The way any transaction is recorded is fundamentally incorrect.
D. One error is compensated by the other error *

1565. The process of totalling the transaction at the end of the period is called :

A. Posting
B. Casting *
C. Journalizing
D. Compensation

1566. Wages are paid 600 $ were posted to wages account as 60 $ to rectify the error the wages account will be :

A. Debited by 540 $ *
B. Debited by 660 $
C. Debited by 600 $
D. Credited by 550 $

1567. Error of principle involves an incorrect allocation of expenditure or receipt between:

A. Capital and revenue *
B. Capital and Capitalized
C. Revenue and deferred revenue
D. Revenue and revenue

1568. The error in the casting of sales book is called as :

A. Error of principle
B. Error of omission
C. Clerical error *
D. Compensation error

1569. Wages paid for the erection of a machine debited to wages Account is an example of :

A. Clerical error
B. Error of principle *
C. Error of omission
D. Compensation error

1570. Error of casting in bill receivable book affects :

A. Bill payable account
B. Debtor Account
C. Bill receivable account *
D. Creditors account