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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is an error of omission?
💡 Hint: Think about missing transactions.
Question 2
Easy
Describe an error of commission.
💡 Hint: What happens if you write down the wrong number?
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the first step in rectifying a journal entry error?
- Record the correct entry
- Reverse the incorrect entry
- Leave it as is
💡 Hint: Think about what should happen before making a new entry.
Question 2
True or False: An error of commission refers to a transaction being completely omitted.
- True
- False
💡 Hint: Remember definitions of each error type!
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
You discover that ₹1,500 was recorded as ₹15 in the journal. What is the correcting entry? Show your work.
💡 Hint: Remember the necessary steps of reversing before recording.
Question 2
If you realize that a sale transaction of ₹10,000 was recorded in two different accounts, how will you correct this? Demonstrate the entries needed.
💡 Hint: Balance the accounts by creating a single accurate representation.
Challenge and get performance evaluation