Trial Balance & Rectification

JKSSB Panchayat Account Assistant · Accountancy & Finance · 11 practice questions with answers and explanations: 3 Easy, 6 Medium, 2 Hard.

Sample questions

Sample Easy question 1

A trial balance is prepared to check which kind of accuracy?

  1. Arithmetical accuracy of ledger postings
  2. Legal accuracy of transactions
  3. Tax compliance
  4. Profitability
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Answer: A. A trial balance verifies that total debits equal total credits, confirming arithmetical accuracy.

Sample Medium question 2

Wrong totaling of a subsidiary book is called an error of:

  1. Casting
  2. Omission
  3. Principle
  4. Compensating
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Answer: A. Errors in totaling (adding up) figures are called errors of casting.

Sample Hard question 3

If total purchases are overstated by Rs. 500 and total sales are also overstated by Rs. 500, this is an example of:

  1. Compensating error
  2. Error of principle
  3. Error of omission
  4. Clerical error only
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Answer: A. Two independent errors that happen to cancel each other's effect on the trial balance are compensating errors.

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