| 1 |
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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| 2 |
A copy of the customer's account in the bank's ledger is called: |
- A. Deposit statement
- B. Balance statement
- C. Bank statement
- D. Customer
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| 3 |
The accounts of expenses, incomes, losses and gains |
- A. real accounts
- B. valuation accounts
- C. nominal accounts
- D. personal accounts
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| 4 |
Journal shows all necessary information regarding. |
- A. The document
- B. A transaction
- C. The accounting
- D. Meeting
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| 5 |
According to accounting equation, capital is equal to |
- A. assets + liabilities
- B. expenses-incomes
- C. liabilities - assets
- D. assets - liabilities
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| 6 |
A bill of exchange contains: |
- A. An unconditional order
- B. A promise
- C. A request
- D. A conditional order
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| 7 |
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
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| 8 |
Modern system of bookkeeping is |
- A. single entry system
- B. double entry system
- C. modern system
- D. none of these
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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 |
Events which are related with money are called: |
- A. Monetary events
- B. Non - monetary events
- C. None-social events
- D. Political events
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