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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the first step in identifying errors in the ledger?
💡 Hint: Think about what you would do if the totals do not match.
Question 2
Easy
Name one example of an error in the ledger.
💡 Hint: Consider what happens when entries are misplaced.
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 primary reason for identifying errors in the ledger?
- To reduce workload
- To ensure accurate financial reporting
- To make data entry easier
💡 Hint: Consider why businesses rely on accurate records.
Question 2
True or False: Compensating errors do not need to be corrected since they offset each other.
- True
- False
💡 Hint: Think about why accuracy is necessary.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
You find two entries of ₹500 each mistakenly duplicated in your sales ledger. How do you rectify this error?
💡 Hint: Think of which entry needs to be nullified.
Question 2
During a quarterly verification, a balance discrepancy of ₹1,500 is found. The error involves multiple transactions. Describe how you would approach identifying and correcting the mistake.
💡 Hint: Take your time to check each entry carefully.
Challenge and get performance evaluation