Transaction not recorded in the books is an error of principle.

Transaction not recorded in the books is an error of principle.
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State whether the following statement are True or False with reason : Transaction not recorded in the books is an error of principle.
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When a transaction is not recorded according to the principles of book-keeping the error is said to be an error of principle.

Description : When a transaction is not recorded according to the principles of book-keeping the error is said to be an error of principle.

Last Answer : State whether the following statement are True or False with reason : When a transaction is not ... error is said to be an error of principle.

On what basis the transaction recorded in treasures cash Book a. on the basis of amount b. on the basis of time they occur c. None of these On what basis the transaction recorded in treasures cash Book a. on the basis of amount b. on the basis of time they occur c. None of these

Description : On what basis the transaction recorded in treasures cash Book a. on the basis of amount b. on the basis of time they occur c. None of these

Last Answer : b. on the basis of time they occur

Speedy Bike Company received a $940 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $490 and a credit to Service Revenue $490. The correcting entry is a. debit Cash, $940; credit Accounts Receivable, $940. b. debit Cash, $450 and Accounts Receivable, $490; credit Service Revenue, $940. c. debit Cash, $450 and Service Revenue, $490; credit Accounts Receivable, $940. d. debit Accounts Receivable, $940; credit Cash, $450 and Service Revenue, $490.

Description : Speedy Bike Company received a $940 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $490 and a credit to Service Revenue $490. The ... Receivable, $940. d. debit Accounts Receivable, $940; credit Cash, $450 and Service Revenue, $490.

Last Answer : c. debit Cash, $450 and Service Revenue, $490; credit Accounts Receivable, $940.

A foreign currency transaction should be recorded, on initial recognition in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the recording.

Description : A foreign currency transaction should be recorded, on initial recognition in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the recording.

Last Answer : FALSE

(i) An error in which the transaction is entered in the original book but not posted into the ledger.

Description : (i) An error in which the transaction is entered in the original book but not posted into the ledger.

Last Answer : Give one word/term or phrase for each of the following statements : (i) An error ... Errors can be rectified without passing rectification entries.

The fact of cleaning of seals and stamps should every time be recorded in postmaster ____ in Head offices in the _________ in Sub offices in the__________of the HAS, the mail agent or the Record assistant which will be examined by the ____at the time of inspection a) Daily a/c, Error book, dairy, inspecting officer b) Order book, Error book, rough note, inspecting officer c) Order book, dairy, rough note, postmaster d) Order book, Error book, dairy, inspecting officer

Description : The fact of cleaning of seals and stamps should every time be recorded in postmaster ____ in Head offices in the _________ in Sub offices in the__________of the HAS, the mail agent or the Record ... c) Order book, dairy, rough note, postmaster d) Order book, Error book, dairy, inspecting officer

Last Answer : b) Order book, Error book, rough note, inspecting officer

(i) Transactions remained to be recorded at all in the books of account.

Description : (i) Transactions remained to be recorded at all in the books of account.

Last Answer : Give one word/term or phrase for each of the following statements : (i) Transactions remained ... that affect the debit and credit side equally.

Trade discount is recorded in the books of accounts.

Description : Trade discount is recorded in the books of accounts.

Last Answer : Correct the following statement and rewrite the statement : Trade discount is recorded in the books of accounts.

Casual leave need not be reported nor recorded in absentee statements, in service books or service rollsThe above said statement is

Description : Casual leave need not be reported nor recorded in absentee statements, in service books or service rollsThe above said statement is

Last Answer : True

While surveying a plot of land by plane tabling, the field observations (A) And plotting proceed simultaneously (B) And plotting do not proceed simultaneously (C) And recorded in field books to be plotted later (D) All the above

Description : While surveying a plot of land by plane tabling, the field observations (A) And plotting proceed simultaneously (B) And plotting do not proceed simultaneously (C) And recorded in field books to be plotted later (D) All the above

Last Answer : (A) And plotting proceed simultaneously

Which of the following statement is correct? (A) The amount of Goodwill or Capital Reserve is recorded in the books of purchasing company only (B) The amount of Goodwill or Capital Reserve is recorded in the books of vendor company only. (C) Goodwill = Net Assets – Purchase price (D) The face value of shares of purchasing company will be taken in to account while calculating purchase consideration.

Description : Which of the following statement is correct? (A) The amount of Goodwill or Capital Reserve is recorded in the books of purchasing company only (B) The amount of Goodwill or Capital ... value of shares of purchasing company will be taken in to account while calculating purchase consideration.

Last Answer : The amount of Goodwill or Capital Reserve is recorded in the books of purchasing company only

A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated. (a) Money measurement (b) Conservatism (c) Consistency (d) None of these

Description : A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in ... is violated. (a) Money measurement (b) Conservatism (c) Consistency (d) None of these

Last Answer : (b) Conservatism

An asset of Rs.85,000 was purchased for Rs.75,000 and was recorded in the books at Rs.85,000. What is the correct amount of profit to be reported in the books? a) Rs.1,47,000 b) Rs. 1,51,000 c) Rs.1,63,000 d) Rs.1,41,000

Description : An asset of Rs.85,000 was purchased for Rs.75,000 and was recorded in the books at Rs.85,000. What is the correct amount of profit to be reported in the books? a) Rs.1,47,000 b) Rs. 1,51,000 c) Rs.1,63,000 d) Rs.1,41,000

Last Answer : b) Rs. 1,51,000

Varshini sold one – fourth of her books at a gain of 10% and the remaining at cost price. Find the gain earned by her in the whole transaction.

Description : Varshini sold one – fourth of her books at a gain of 10% and the remaining at cost price. Find the gain earned by her in the whole transaction.

Last Answer : Let cost price of whole be Rs x Cost price of 1 / 4 th =Rs x/4 Cost price of 3 / 4 th = Rs 3x/4 Total selling price = Rs [(110% of x/4)+3x/4)] = Rs [(110/100 * x/4) + 3x/4] = Rs [11x/40 + 3x/4 ... 41x/40 Gain = Rs 41x/40 - x = x/40 Gain % = x/40 * 100 *1/x = 100/40 Gain % = 2.5%

The principle of making use of greater homogeneity in groups of experimental units reduce the experimental error is (A) Local control (B) Experiment (C) Replication (D) Experiment Error

Description : The principle of making use of greater homogeneity in groups of experimental units reduce the experimental error is (A) Local control (B) Experiment (C) Replication (D) Experiment Error

Last Answer : (A) Local control

Select the incorrect statement from the following. (a) Galactosemia is an inborn error of metabolism. (b) Small population size results in random genetic drift in a population. (c) Baldness is a sex-limited trait. (d) Linkage is an exception to the principle of independent assortment in heredity

Description : Select the incorrect statement from the following. (a) Galactosemia is an inborn error of metabolism. (b) Small population size results in random genetic drift in a population. (c) Baldness is a sex-limited trait. (d) Linkage is an exception to the principle of independent assortment in heredity

Last Answer : (c) Baldness is a sex-limited trait.

Working from the whole to the part is followed as the fundamental principle of surveying so as to : 1. Distribute errors 2. Improve ease of working 3. Prevent accumulation of errors 4. Compensate error in a way 5. Refer to common datum, say MSL (a) 1, 2 and 4 (b) 1, 3 and 5 (c) 3 and 4 (d) 2 and 5

Description : Working from the whole to the part is followed as the fundamental principle of surveying so as to : 1. Distribute errors 2. Improve ease of working 3. Prevent accumulation of errors 4. Compensate error in a way 5. Refer to common datum ... (a) 1, 2 and 4 (b) 1, 3 and 5 (c) 3 and 4 (d) 2 and 5

Last Answer : (c) 3 and 4

The trial and error method of learning according to Thorndike could be classified as under Options: A) The principle of multiple responses B) The law of exercise C) The principle of partial activity D) The principle of Associative learning

Description : The trial and error method of learning according to Thorndike could be classified as under Options: A) The principle of multiple responses B) The law of exercise C) The principle of partial activity D) The principle of Associative learning

Last Answer : B) The law of exercise