Question # 1

All the transactions recorded to credit sales are recorded in:

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Sale return book

Sales book

Cash book

Debtor's book

A bank reconciliation statement is prepared by:

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banker

Accountant of the business

Statutory auditors

Rigistar

It is used to record only cash receipts and payments

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Single column cash book

Double column cash book

Treble column cash book

Sales book

An expenditure, which is temporarily increase the profit making capacity of the business is called

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Deferred expenditure

Capital expenditure

Revenue expenditure

Non-recurring expenditure

Cost incurred to generate revenue is called

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Revenue

Cost

Expense

Liability

From business point of view, Interest on capital is considered as

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An income

An expense

A profit

A liability

From business point of view, interest on capital is considered as

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An income

An Expense

A Profit

A Liability

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

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Revenue received in advance

Accrued revenue

Unearned revenue

Both a & c

Which one of the following is appeared in the balance sheet ?

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revenue expenditure

capital expenditure

deferred revenue

both b,c

Which book is used to record all credit purchases?

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Purchases book

Purchases book return

Cash book

Debit note book

Suspense means

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certainty

uncertainty

surly

none of these

The person who take the initaiative in the matter of formation of a company are known as the.

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Promoters

Share holder

Director

Registered

Capital fun of non trading concern is equal to.

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Assets + Income

Assets + Liabilities

Expenditure + Liabilities.

Assets - Liabilities

Income and expenditure account is equivalent to the.

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Receipt and payment account

Balance sheet

Cash book

Profit and loss account

Partner's capital are affected due to.

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Admission of a partner

Retirement of the partner

Death of a partner

All of the above

Equity share holders are.

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Creditors

Owners

Customers of the company

Debtors of the company

Income and expenditure account is credited with all.

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Expenses

Incomes

Assets

Liabilities

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