1591. Only those errors affect the profit of the business which are related to :

A. profit and loss account for trading *
B. Balance sheet
C. Trading account only
D. Profit and loss account only

1592. If any expense account or revenue account is wrongly debited , the profit will decrease and when it is rectified :

A. The profit will become double
B. The profit will become half
C. The profit will increase *
D. The profit will less

1593. If by error, any revenue omitted to be recorded it will :

A. Understate the profit
B. Overstate the profit *
C. Both understate and overs at the profit
D. Having no effect on profit

1594. If there is any error in cash account, it will affect :

A. Trading account
B. Profit and loss account
C. Balance sheet *
D. Both trading and profit and loss account

1595. IF the error is committed in liabilities account, it will have its impact – on the :

A. Trading account only
B. Profit and loss account only
C. Profit and loss account as well as trading account
D. None of these

1596. When all the errors are rectified and posted to suspense account the suspense account shows :

A. Debit balance
B. Credit balance
C. Both sides are equal *
D. None of these

1597. In ease of double sided errors, the correct entry should be, equal to :

A. Wrong entry+ rectifying entry *
B. Wrong entry + Suspense entry
C. Rectifying entry + suspense entry
D. Correct entry + Rectifying entry

1598. Under or over casting of a subsidiary book is an example of errorof :

A. Omission
B. Principle
C. Both Omission and principle
D. Commission *

1599. Errors which affect profit and loss relae to :

A. Real account
B. Personal account
C. Nominal account *
D. None of these

1600. Errors of carry forward effect :

A. Impersonal accounts *
B. Personal accounts
C. Both personal and impersonal accounts
D. None of these