Purchase book was undercast by Rs 100. To rectify this which of the following is correct? Options: A . &nbspSales account shall be debited B . &nbspPurchase account shall be credited C . &nbspPurchase account shall be debited D . &nbspNone of the above

Purchase book was undercast by Rs 100. To rectify this which of the following is

Question

Purchase book was undercast by Rs 100. To rectify this which of the following is correct?

Options:

A . Sales account shall be debited

B . Purchase account shall be credited

C . Purchase account shall be debited

D . None of the above

Answer: Option C
:
C
Purchase has a debit balance which is unedrcast, to rectify this purchase account shall be debited by the amount of difference.

Was this answer helpful ?

Next Question

Submit Solution

More Questions on This Topic :

Question 1. Rectification of an error of overcasting in the Purchase returns book will require purchase return account to be ___ &am....account to be ___ & suspense account to be ___

Question 2. Repairs bill for the proprietor`s car Rs 410 has been paid by the firm & has been debited to the repairs account. Wh....of the following is correct with regards to its rectification?

Question 3. While rectifying the errors of overcasting/ undercasting, which of the following accounts are used?....

Question 4. A sale of Rs. 2550 on credit entered in the Sales Book as Rs.5250. The effect of this mistake on the Gross Profit shall ....of this mistake on the Gross Profit shall be ___ .

Question 5. Rent paid Rs. 2,000 was wrongly shown as payment to landlord in the cash book. The effect of this is ___....

Question 6. Which of the following errors shall NOT be rectified by using a Suspense Account?....

Question 7. Salary paid to Manager is debited to his personal account. This error is an error of ___ .....

Question 8. Sales to Shakila of Rs. 2,400 was posted to the debit of her account. How it shall be corrected?....

Question 9. An amount of Rs. 99 was omitted to be posted to the credit of a customer's account from the Cash Book. Suspense acc....Cash Book. Suspense account shall be ___ to rectify this error.

Question 10. Rs. 580 received from Shyam were posted to his account as Rs. 850. To rectify this error, suspense account shall be ___&....rectify this error, suspense account shall be ___ With Rs ___ .

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

Pie Chart - Test Paper 1 Data Interpretation Reasoning & DI

Tabulation - Test Paper 2 Data Interpretation Reasoning & DI

Test Paper 1 Direction Sense Test Reasoning & DI

ICA , RDIC,GFM Free Modal Test Paper - Non - Technical Branch Old Syllabus 2022 - SAIL Junior Officer E0

GFM Combined 1 Free Revision Test SAIL JO E-0

Submit Solution

More Questions on This Topic :

Latest Videos

Latest Test Papers