ROE Flashcards

(11 cards)

1
Q

TYPES OF ERROR

A

1) error of commission
2)error of omission
3) compensating error

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

ERROR OF PRINCIPLE CAN ONLY HAPPEN AT

A

WHILE PASSING OF JOURNAL ENTRIES

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

COMPENSATING ERROR

A

JAB DO ERROR EK DUSRE KI GALTI KO NULLIFY KARDE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

JAB KOI BHI EK SPOT KHAALI HO DR YAA CR TO WE USE

A

P$L SUSPENSE ALC

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

SHOW THE EFFECT ON TRIAL BALANCE / WITHOUT USING SUSPENSE ACCOUNT

A

dont use suspense account and write one liners with telling what would have happen before rectifying the given problem or entry
EX-1)the debit side would have been shorter by X$

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

ERRORS
1) NOT BEEN PASSED/ NOT ENTREED
2) POSTED TO THE DEBIT/ POSTED TO THE CREDIT
3) CASTED SHORT/ CASTED MORE

A

1) JOURNAL ENTRIES ke errors
2) LEDGER KE errors
3) TRIAL BALANCE KE ERROR

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

IN THE SUMS OF NEXT YEAR AND SHIT

A

THE ALL THE NOMINAL ACCOUNTS WILL BE CHANGED TO PROFIT AND LOSS ADJUSTMENT ACCOUNTS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

IN THE NEXT YEAR QUESTIONS
1) DEBTOR
2) CREDITOR
3) NOMINAL

A

1) TRADE RECEIVABLE
2) TRADE PAYABLES
3) P&L ADJUSTMENTS ALC

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

IN EVERY QUESTION THAT IS NECCESSARY

A

TO OPEN A SUSPENSE ACCOUNT IF THE SUM IS OF SUSPENSE ACCOUNT BOLA GAYA HO YAAA NAHI BHI

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

jab question mei P&L ADJUSTMENT ALC aur SUSPENSE ALC BANNE TO

A

BALANCING FIGURE WILL BE TRANSFERED TO CAPITAL ACCOUNT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

if the DIFFERENCE OF TRIAL BALANCE IS TRANSFERRED TO
1)suspense account
2)p&l account

A

1) BALANCE B/D = no journal entries
2) CAPITAL ALC = journal entries 2 more

How well did you know this?
1
Not at all
2
3
4
5
Perfectly