Question # 1

An expenditure which is incurred again and again is a:

Choose an answer

Capital expenditure

Future expenditure

Deferred expenditure

Revenue expenditure

Events which are related with money are called:

Choose an answer

Monetary events

Non - monetary events

None-social events

Political events

An operating statement is similar to a

Choose an answer

Balance sheet

bank reconciliation statement

Financial statement

Profit or loss statement

The most exhaustive cash book is

Choose an answer

Petty Cash Book

Single Column Cash Book

Double Column Cash Book

Treble Column Cash Book

Net sales are equal to sales minus

Choose an answer

Returns inwards

Returns outwards

Cost of goods sold

carriage on sales

The outflow of funds to meet the running expenses of a business

Choose an answer

Revenue loss

Revenue expenditure

capital expenditure

capital loss

The balance of the 'Caha Column' in cash book is always:

Choose an answer

Debit balance

Credit balance

Both debit and credit balance

None of the above

The periodical total of purchases book is posted to the

Choose an answer

Debit of purchases account

Credit of purchases account

Credit of cash account

Debit of sales account

Bill receivable account is a:

Choose an answer

Nominal account

Personal account

Real account

Expenses account

The time after which the bill is to be paid

Choose an answer

Grace Days

Tenor

Due Date

Extra Days

The revenue that has not become due, but received in cash in current year is known as

Choose an answer

Revenue received in advance

Accrued revenue

Unearned revenue

Both a & c

If the debit side of the recipt and payment account exceeds the credit side it represents.

Choose an answer

Bank over draft

Cash at bank

Surplus balnce

Deficit balance

When a new partner is admitted with out the consent of the old partner.

Choose an answer

Partnership will be dissolved

Will value

Agreed value

None of these

The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.

Choose an answer

Sales account

Performa invoice

Account sales

None of these

Abnormal loss arises due to.

Choose an answer

Natural causes

Evaporation drying breaking in bulk

Pilferage , theft fire etc.

Some unavoidable causes

Capital fun of non trading concern is equal to.

Choose an answer

Assets + Income

Assets + Liabilities

Expenditure + Liabilities.

Assets - Liabilities

The amount charged to depreciation goes on declining in.

Choose an answer

Diminishing balance method

Fixex instaliment method

Annuity method

Depreciation fund method

The joint stock company is formed under companies ordiance.

Choose an answer

1984

1974

1884

1962

A partner, who hasnot attained the age of majority is called.

Choose an answer

Junior partner

Minor partner

Nominal patner

Quasi Partner

A new partner may be admitted to a partnership.

Choose an answer

With the consent of all the partners

With the consent of any one of the partners

With consent of two third the old partners

Without the consent of old partners

Share capital int he balance sheet is known as.

Choose an answer

Asset

Liability

Income

Reserve

The profit on revaluation of assts and liabilities on the retirement of the partners should be credited to the capital account of.

Choose an answer

All the partners

Retiring partner

Remaining partner

None of these

More Classes

Other Links

Accounting Test Easy Mode MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer