Which of the following errors will cause the trial balance to be out of balance?
A. The total of the Purchase book is Rs. 1000 short
B. Goods received back from Mahesh, Rs. 250 have not been entered in the Returns Inward book
C. Office furniture purchased from Ravi and Co. Rs. 950 has been entered in the Purchase book
D. A purchase of Rs. 251 from Gopal and Co. has been entered in the Purchase book as Rs. 215
Answer: Option A
This Question Belongs to Commerce >> Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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