While rectifying the errors of overcasting/ undercasting, which of the following accounts are used? Options: A . &nbspOvercasting account B . &nbspUndercasting account C . &nbspSuspense account D . &nbspNone of the above

While rectifying the errors of overcasting/ undercasting, which of the following

Question

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

Options:

A . Overcasting account

B . Undercasting account

C . Suspense account

D . None of the above

Answer: Option C
:
C
Suspense account is used while rectifying the errors of undercasting/overcasting.

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Question 1. 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 2. Rent paid Rs. 2,000 was wrongly shown as payment to landlord in the cash book. The effect of this is ___....

Question 3. Which of the following errors shall NOT be rectified by using a Suspense Account?....

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Question 10. Sales to Meena for Rs.4200 have been posted to her credit as Rs.2400. What shall be the net effect on the Gross Profit o....the net effect on the Gross Profit of this transaction?

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