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Earn 100

Define errors of omission and how they impact accounting records.

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Important Questions on Trial Balance and Rectification of Errors

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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What is informal communication?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
State the meaning of principles of management.
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
Explain the types of errors that affect the trial balance.
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
Explain the relationship between the marginal products and the total product of an input.
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
Which function of management involves developing an organizational structure and allocating human resources?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What does it mean to issue debentures at a discount and redeemable at a premium?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What is the total product of an input?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
How do compensating errors affect the trial balance?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
Which management concept ensures that each employee has only one direct supervisor?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What is meant by a debenture?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What is the law of diminishing marginal product?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What is meant by recruitment? How is it different from selection?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What is the meaning of ‘Debentures issued as a collateral security’?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
A company is manufacturing paper plates and bowls. It produces 1,00,000 plates and bowls each day. Due to a local festival, it got an urgent order of extra 50,000 plates and bowls. Explain the method of recruitment that the company should adopt in the given circumstances to meet the order.
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What are errors of principle? Provide examples.
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What does ‘Issue of debentures for consideration other than cash’ mean?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What are errors of commission? Give examples.
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
Discuss the difference between errors that affect the trial balance and those that do not.
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
What does a bearer debenture mean?
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Accountancy>Financial Accounting-I>Trial Balance and Rectification of Errors>Classification of Errors
Explain the concept of a production function.