Question # 1

Nominal account are related to:

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Assets and liabilities

Expenses, losses and incomes

Customers, creditors etc

Capital account

The debts, the recovery of which is uncertain are called

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Unbelievable debts

unrealized debts

doubtful debts

both b and c

An expenditure, incurred to improve the position of the business is known as

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Deferred expenditure

Revenue expenditure

Capital expenditure

Recurring expenditure

An operating statement is similar to a

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Balance sheet

bank reconciliation statement

Financial statement

Profit or loss statement

Pass book is prepared by

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Debtor

Creditor

Banker

Customer

The book in which all cash transaction are primarily recorded is called

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Pass book

Cheque book

Finance book

Cash book

A bill of exchange is a / an

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Promise

Unconditional Order

Request

Conditional Order

The accounts of assets and properties

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nominal accounts

real accounts

personal accounts

valuation accounts

If the total of the credit side of an account exceeds that of debit side of the same account, it is called

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Credit Balance

Debit Balance

Balancing

Zero Balance

A Ledger is a book in which

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Only Personal & Cash Accounts are Opened

Only Real Accounts are Opened

Only Nominal Accounts are Opened

All Real, Nominal and Personal Accounts are Opened

Which one of the following is a direct expense?

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Custom duty

Carriage

Wages

All of above

The charter of the company containing the objects of whihc for company is being formed is called.

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Articles of association

Prospectus

Memorandum of associaton

Notice

In the books of consignor on reciving advance in cash from consignee should be debited to.

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Cash account

Consignee account

Consignment account

None of these

Non- trading concern prepare.

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Profit and loss account

Income and expenditure account

Manufactureing account

None of these

Those debentures wihch carry no security as to payment of interest or repayment of principal, are known as.

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Morigage debentures

Secured debentures

Simple or naked debentures

None of these

The figure of the credit purchase can be worked out.

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Total debtors account

Total creditors account

Cash book

Balance sheet

The which is calculated at the time of retirment of partner is

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Gaining ratio

Serching ratio

Capita ratio

New ratio

Non-profit seeking organizations prepare

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Manufacturing account

Trading account

Income and expenditure account

Profit and loss account

The value of the share as quoted on the stock exchange is said to be

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Par value

Book value

Cost value

Market value

Debit side of income and expenditur eaccount records.

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Expenses and losses

Income and gains

Assets

Liabilities

Kind of company is.

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2

3

4

5

A statement of assets and liabilities is prepared under the single entery system is called.

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Balance sheet

Financial statement

Statement of affair

Cash transaction

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