(A) Error of casting affects personal accounts

(B) Omission of a transaction from a subsidiary record affects only one account

(C) Error of carry forward affects two accounts

(D) Error of principle involves an incorrect allocation of expenditure or receipt between capital and revenue

(A) Entering wrong amount in the subsidiary book affects the agreement of the Trial Balance

(B) Undercasting or overcastting of a subsidiary book is an example or error of commission

(C) Errors of principle do not affect the agreement of Trial Balance

(D) Both

(A) Sale of ` 100 was recorded in the Purchases Journal

(B) Wages paid to Mohan have been debited to his account

(C) The total of the sales journal has not been posted to the Sales Account

(D) Repairs to buildings have been debited to buildings account

(A) The cost of goods sold was overstated during 2011-2012 and income will be understated during 2012-2013

(B) The income was overstated during 2011-12 and closing inventory will be overstated during 2012-2013

(C) The retained earnings was overstated during 2011-2012 and retained earnings will be understated during 2012-2013

(D) The cost of goods sold was understated during 2011-2012 but retained earnings will not be affected during 2012-2013

(A) Errors of complete omission

(B) Errors of principle

(C) Errors of posting to wrong account

(D) All the three

(A) Errors of casting

(B) Errors of carry forward

(C) Errors of posting

(D) All the three

(A) Interest payable on loans or deferred credits taken for the acquisition or construction of fixed assets before they are ready for use

(B) Stand by equipment and servicing equipment

(C) Expenditure incurred on test runs and experimental production

(D) Administration and general expenses

(A) Increase in working capacity of an asset

(B) Reduction in operating costs

(C) Replacing damaged parts of an asset

(D) Both

(A) Compensation paid to Directors on termination of their services

(B) Expenditure incurred in connection with the renewal of a Trade Mark.

(C) Gratuities paid to Directors on termination of their services.

(D) Royalty paid in installments for the purchase of rights to manufacture and sell patient medicines.

(A) All the significant events after the Balance Sheet date

(B) The events after Balance Sheet date but before submitting it to the Registrar of Companies

(C) The events after Balance Sheet date but before its approval by the board

(D) All changes after Balance Sheet date before its approval