Account II Tutorial 7.docx - Tutorial 7 Errors and Suspense...

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Tutorial 7: Errors and Suspense Account Section 1: Multiple choice questions 1) What is the effect to the company’s profit if acquired a motor vehicle amounting to RM50,000 was posted as Purchases? A. Net profit only would be understated B. Net profit only would be overstated C. Both gross profit and net profit would be overstated D. Both gross profit and net profit would be understated 2) Which of the following do not affect Trial Balance agreement? (i) Sales RM105 to Henry entered in Harry’s account (ii) Cheque payment of RM134 for repair of motor vehicles entered only in the Cash Book (iii) Purchases RM440 from Browne entered in both accounts as RM404 (iv) Wages account added up incorrectly, overstated by RM10 3) Errors are corrected via the General Journal because
4) Which of these errors would be disclosed by the Trial Balance?

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