Which of the following error, will be rectified through suspense account?
Underwriting of sales book by Rs 5,000.
The correct answer is option 4. Underwriting or underreporting of sales book by Rs 5,000 is a situation where the sales figure is recorded incorrectly and the discrepancy can be adjusted through a suspense account. A suspense account is used to temporarily hold discrepancies until the error is identified and corrected.
Important Questions from Rectification of Error
If a credit purchase of machinery is recorded in purchase book instead of journal proper it is an error of _______.
Which one of the following statement is not true?
Which one of the following errors affect the trial balance?
Which one of the following is not a clerical error?
Repairs of second hand machinery purchased is debited to repairs account. It is an error of
