What this practice covers
These questions are drawn from past CIE 9706 Accounting papers and filtered to correction of errors and suspense accounts. You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
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What examiners see students get wrong here
These are the errors that cost marks on correction of errors and suspense accounts, taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Using the suspense account to correct a two-sided error.
- Correcting a reversal with the original amount instead of double it.
- Adjusting profit for an error that only moved figures between two statement of financial position accounts.
- Getting the direction wrong: an overstated expense increases corrected profit.
- Leaving a suspense balance in the final accounts.
- Writing "correct the error" as the journal narrative instead of describing what was done.
- Forgetting that a corrected profit changes the capital figure in the statement of financial position too.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: Correction of errors and suspense accounts revision notes.