| 1 |
Ahmad's account is an example of |
- A. real account
- B. personal A/c
- C. nominal account
- D. none of these
|
| 2 |
Goods returned by customers are |
- A. purchases
- B. purchases returns
- C. sales returns
- D. sales
|
| 3 |
Events which are related with money are called: |
- A. Monetary events
- B. Non - monetary events
- C. None-social events
- D. Political events
|
| 4 |
Carriage account is a/an |
- A. asset account
- B. revenue account
- C. expenditure A/c
- D. withdrawal account
|
| 5 |
An expenditure incurred to the increases the profit earning of the concern is a: |
- A. Revenue expenditure
- B. Current expenditure
- C. Capital receipt
- D. Capital expenditure
|
| 6 |
Disagreement in balances may arise owing to mistake or mistakes in the: |
- A. Cash book only
- B. Bank statement
- C. Cash book or bank statement
- D. Bank column of the cash book only
|
| 7 |
According to accounting equation, capital is equal to |
- A. assets + liabilities
- B. expenses-incomes
- C. liabilities - assets
- D. assets - liabilities
|
| 8 |
The recording of transaction chronologically in the book of accounts is called: |
- A. Summarizing
- B. Classifying
- C. Recording
- D. None of above
|
| 9 |
The accounts of expenses, incomes, losses and gains |
- A. real accounts
- B. valuation accounts
- C. nominal accounts
- D. personal accounts
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| 10 |
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
|