[dummy - to be removed] An error involving excess debit in account is rectified by corresponding ___ By the amount that is in excess.

Debit

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Credit

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Suspense Account

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None of the above

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Solution

The correct option is B
Credit

The rectification process essentially involves cancelling the effect of wrong debit by reversing it through credit.

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Similar questions

An error involving excess debit in account is rectified by corresponding ___ By the amount that is in excess.

An error involving excess credit in an account is rectified by corresponding ___ By the amount that is in excess.

An error involving short debit in an account is rectified by corresponding ___ In the same account by the amount that is in short.

An error involving short credit in an account is rectified by corresponding ___ In the same account by the amount that is in short.

Sohan’s A/c is debited by Rs. 2,500 while it was to be debited by Rs. 3,500 and Mohan’s A/c is debited by Rs. 3,500 while the same was to be debited by Rs. 2,500. For this error, which of the following can be a rectifying entry?

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[dummy - to be removed] An error involving excess debit in account is rectified by corresponding ___ By the amount that is in excess.

The correct option is B Credit The rectification process essentially involves cancelling the effect of wrong debit by reversing it through credit.

The correct option is B
Credit

The rectification process essentially involves cancelling the effect of wrong debit by reversing it through credit.