| 1 |
A bill of exchange contains: |
- A. An unconditional order
- B. A promise
- C. A request
- D. A conditional order
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| 2 |
Error due to wrong allocation as expenditure between capital and revenue is regarded as: |
- A. Error of omission
- B. Error of principle
- C. Compensating errors
- D. Error of Commission
|
| 3 |
Bookkeeping provides the |
- A. primary information
- B. secondary information
- C. final information
- D. insufficient information
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| 4 |
The errors in which amount have occurred on the opposite sides of two or more accounts and have concealed themselves in the net result, are: |
- A. Error of principle
- B. Errors of omission
- C. Errors of commission
- D. Compensating error
|
| 5 |
Accounts relating to persons of firms are called: |
- A. Real accounts
- B. Proprietary accounts
- C. Personal accounts
- D. Nominal accounts
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| 6 |
The recording of transaction chronologically in the book of accounts is called: |
- A. Summarizing
- B. Classifying
- C. Recording
- D. None of above
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| 7 |
Which of the following discloses the financial position of the business: |
- A. Trading account
- B. Profit and loss account
- C. Profit and loss appropriation account
- D. Balance sheet
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| 8 |
An expenditure which is incurred again and again is a: |
- A. Capital expenditure
- B. Future expenditure
- C. Deferred expenditure
- D. Revenue expenditure
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| 9 |
Ahmad's account is an example of |
- A. real account
- B. personal A/c
- C. nominal account
- D. none of these
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| 10 |
Carriage account is a/an |
- A. asset account
- B. revenue account
- C. expenditure A/c
- D. withdrawal account
|