choose the correct answer 567478

Choose the correct answer

1. Trial Balance is prepared to find out
   1. profit or loss
   2. financial position
   3. arithmetical accuracy of accounts
   4. none of the above
2. Suspense Account in the Trial Balance is to be shown in
   1. Trading Account
   2. Profit and Loss Account
   3. Balance Sheet
   4. none of the above
3. Suspense Account having debit balance will be shown in the
   1. assets side of the Balance Sheet
   2. liabilities side of the Balance Sheet
   3. debit side of the Profit and Loss Account
   4. credit side of the Profit and Loss Account
4. Suspense Account will get closed when
   1. Trading Account is prepared
   2. Profit and Loss Account is prepared
   3. Balance Sheet is drawn
   4. errors are rectified
5. Errors which are not disclosed by Trial Balance are
   1. Errors of partial omission
   2. Errors of complete omission
   3. Errors of carrying forward
   4. Wrong totalling to ledger
6. Trial Balance can be prepared on
   1. the end of an accounting period
   2. any date
   3. directions by the statutory provision
   4. none of the above
7. Errors that affect one side of an account are called
   1. Single sided errors
   2. Double sided errors
   3. Absolute errors
   4. none of the above
8. Wages paid to workers for erection of a new machinery will have to be debited to
   1. Wages Account
   2. Machinery Account
   3. Production Expenses Account
   4. none of the above
9. Goods taken by the Proprietor for own use will be credited to
   1. Drawings Account
   2. Sales Account
   3. Office Account
   4. Purchases Account
10. While totalling a subsidiary book, errors that are committed belong to
    1. Error of recording
    2. Error of posting
    3. Error of casting
    4. Error of omission