$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.

✅ B. Undercasting or overcastting of a subsidiary book is an example or error of commission

Option A : Entering wrong amount in the subsidiary book affects the agreement of the Trial Balance Option B : Undercasting or overcastting of a subsidiary book is an example or error of commission Option C : Errors of principle do not affect the agreement of Trial Balance Option D : Both Correct Answer : Both and above Read more

✅

Option A : Masoods account Option B : Cash account Option C : Cash account and Gagans account Option D : None of these Correct Answer : Masood™s account Read more

✅ A. Credit balance

Option A : Credit balance Option B : Debit balance Option C : Bank overdraft Option D : Adjusted balance Correct Answer : Credit balance Read more

✅ D. Trial Balance

Option A : Bank column of Cash Book Option B : Bank Pass Book Option C : Bank Statement Option D : Trial Balance Correct Answer : Trial Balance Read more

✅

Option A : Prepaid expenses Option B : Trademark Option C : Discount on issue of shares Option D : Outstanding Salaries Read More Details about this Mcq Correct Answer : Outstanding Salaries Read more

✅ A. Financial results of the concern for a period

Option A : Financial results of the concern for a period Option B : Financial position of the concern on a particular date Option C : Financial results of the concern on a particular date Option D : Cost of goods sold during the period Read More Details about this Mcq Correct Answer : Financial results of the concern for… Read more

✅ B. Known Liabilities

Option A : Unknown Liabilities Option B : Known Liabilities Option C : Creation of Secret Reserves Option D : All the Three Correct Answer : Known Liabilities Read more

✅ C. Accounts receivable

Option A : Cash Option B : Bank balance Option C : Accounts receivable Option D : Cash reserve Correct Answer : Accounts receivable Read more