This Journal Entry Rectifies The Previously Made

MULTIPLE CHOICE: 1. This journal entry rectifies the previously made erroneous journal entry. a. correcting entryb. adjusting entryc. closing entryd. reversing entry2. This journal entry rectifies the accounts by updating and reclassifying. a. correcting entryb. adjusting entryc. closing entryd. reversing entry3. This journal entry stops the entry of the temporary account in the next accounting period. a. correcting entryb. adjusting entryc. closing entryd. reversing entry4. This journal entry prepares the accounts for the recording of transactions for the new accounting period. a. correcting entryb. adjusting entryc. closing entryd. reversing entry5. This recording error is due to interchanging the positions of figures. a. transposition errorb. transplacement errorc. transaction errord. account title error6. This accounting error is committed by not recording a transaction. a. transposition errorb. transaction errorc. omission errord. account title error7. This accounting error is made when the transaction is not properly described in the journal entries. a. transposition errorb. account title errorc. omission errord. account title error8. This accounting error is due to the wrong posting of figures in the amount column when the journal entry was made. a. transposition errorb. transplacement errorc. transaction errord. account title error9. It refers to the temporary account title used to correct error when the nominal accounts are already closed. a. capital accountb. drawing accountc. real accountd. income summary account10. The account used to correct error when the income summary account is already closed. a. capital accountb. drawing accountc. real accountd. income summary account11. This accounting error affects the real accounts and therefore needs to be corrected whenever discovered. a. counter-balancing errorb. perpetual errorc. mixed accounts errord. material error12. This accounting error affects the nominal accounts and its corrections is not needed when nominal accounts were already closed because the error will naturally be corrected in the next accounting period. a. counter-balancing errorb. perpetual errorc. mixed accounts errord. material error13. This accounting error affects both nominal and real accounts and could be corrected by either using the income summary or the capital account. a. counter-balancing errorb. perpetual errorc. mixed accounts errord. material error

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