A LEVEL ACCOUNTING – EXAM
QUESTIONS WITH CORRECT ANSWERS
sales /invoice /- /verified /answers-✔✔Evidence /of /a /credit /sale. /TR /will /increase
purchase /invoice /- /verified /answers-✔✔Evidence /of /a /credit /purchase. /TP /will /increase
Sales /Credit /Note /- /verified /answers-✔✔When /a /credit /customer /returns /goods /and /shows /TR
/owes /less /to /the /business
Purchase /Credit /Note /- /verified /answers-✔✔Received /when /a /business /returns /golds /sold /on
/credit /to /supplier, /TP /owes /less
Cheque /counterfoil /- /verified /answers-✔✔Evidence /business /has /issued /a /cheque
Paying-in /counterfoil /- /verified /answers-✔✔Cash/cheque /a /business /pays /into /bank
cash /receipts /- /verified /answers-✔✔Evidence /of /payment /of /cash
Till /roll /- /verified /answers-✔✔Evidence /of /cash /sale
bank /statement /- /verified /answers-✔✔Evidence /of /direct /debits, /standing /orders, /BACS /and
/bank /charges
, Error /of /reversal /R /- /verified /answers-✔✔When /an /account /is /devoted /instead /of /credited
/and /vice /versa
Error /of /omission /O /- /verified /answers-✔✔Both /sides /of /transaction /have /been /omitted
Error /of /commission /C /- /verified /answers-✔✔Incorrect /account /of /right /type /e.g /different /TR
Error /of /compensation /C /- /verified /answers-✔✔When /errors /on /the /debut /equal /errors /on
/the /credit
Error /of /original /entry /O /- /verified /answers-✔✔Error /made /when /transferring /from /source
/doc /to /books
Error /of /principle /P /- /verified /answers-✔✔Incorrect /class /of /an /account
Transposition /error /T /- /verified /answers-✔✔Not /equal /debit /for /credit /e.g /45 /and /54
Casting /error /A /- /verified /answers-✔✔Where /total /DR+CR /are /miscalculated
Posting /error /P /- /verified /answers-✔✔2 /debits /or /2 /credits
Partial /omission /error /P /- /verified /answers-✔✔One /side /of /transaction /isn't /recorded
Unequal /posting /error /- /verified /answers-✔✔Debit /side /doesn't /equal /credit, /numbers /are
/miles /apart
QUESTIONS WITH CORRECT ANSWERS
sales /invoice /- /verified /answers-✔✔Evidence /of /a /credit /sale. /TR /will /increase
purchase /invoice /- /verified /answers-✔✔Evidence /of /a /credit /purchase. /TP /will /increase
Sales /Credit /Note /- /verified /answers-✔✔When /a /credit /customer /returns /goods /and /shows /TR
/owes /less /to /the /business
Purchase /Credit /Note /- /verified /answers-✔✔Received /when /a /business /returns /golds /sold /on
/credit /to /supplier, /TP /owes /less
Cheque /counterfoil /- /verified /answers-✔✔Evidence /business /has /issued /a /cheque
Paying-in /counterfoil /- /verified /answers-✔✔Cash/cheque /a /business /pays /into /bank
cash /receipts /- /verified /answers-✔✔Evidence /of /payment /of /cash
Till /roll /- /verified /answers-✔✔Evidence /of /cash /sale
bank /statement /- /verified /answers-✔✔Evidence /of /direct /debits, /standing /orders, /BACS /and
/bank /charges
, Error /of /reversal /R /- /verified /answers-✔✔When /an /account /is /devoted /instead /of /credited
/and /vice /versa
Error /of /omission /O /- /verified /answers-✔✔Both /sides /of /transaction /have /been /omitted
Error /of /commission /C /- /verified /answers-✔✔Incorrect /account /of /right /type /e.g /different /TR
Error /of /compensation /C /- /verified /answers-✔✔When /errors /on /the /debut /equal /errors /on
/the /credit
Error /of /original /entry /O /- /verified /answers-✔✔Error /made /when /transferring /from /source
/doc /to /books
Error /of /principle /P /- /verified /answers-✔✔Incorrect /class /of /an /account
Transposition /error /T /- /verified /answers-✔✔Not /equal /debit /for /credit /e.g /45 /and /54
Casting /error /A /- /verified /answers-✔✔Where /total /DR+CR /are /miscalculated
Posting /error /P /- /verified /answers-✔✔2 /debits /or /2 /credits
Partial /omission /error /P /- /verified /answers-✔✔One /side /of /transaction /isn't /recorded
Unequal /posting /error /- /verified /answers-✔✔Debit /side /doesn't /equal /credit, /numbers /are
/miles /apart
