New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    When errors committed in one accounting year are

    located and rectified in the next accounting year, ______ account is opened for correction of the amount relating to income/expenses.
    A manufacturing Correct Answer Incorrect Answer
    B trading Correct Answer Incorrect Answer
    C suspense Correct Answer Incorrect Answer
    D profit and loss adjustment Correct Answer Incorrect Answer

    Solution

    The correct answer is D

    Practice Next