| 1 |
Events which are related with money are called: |
- A. Monetary events
- B. Non - monetary events
- C. None-social events
- D. Political events
|
| 2 |
The recording of transaction chronologically in the book of accounts is called: |
- A. Summarizing
- B. Classifying
- C. Recording
- D. None of above
|
| 3 |
Double entry means |
- A. entry in two sets of books
- B. entry at two dates
- C. entry for two aspects of a transaction
- D. recording twice in journal
|
| 4 |
Ahmad's account is an example of |
- A. real account
- B. personal A/c
- C. nominal account
- D. none of these
|
| 5 |
Accounts relating to persons of firms are called: |
- A. Real accounts
- B. Proprietary accounts
- C. Personal accounts
- D. Nominal accounts
|
| 6 |
An expenditure which is incurred again and again is a: |
- A. Capital expenditure
- B. Future expenditure
- C. Deferred expenditure
- D. Revenue expenditure
|
| 7 |
When cash is paid to creditors it will decrease |
- A. cash
- B. capital
- C. debtor
- D. cash & creditors
|
| 8 |
The accounts of assets and properties |
- A. nominal accounts
- B. real accounts
- C. personal accounts
- D. valuation accounts
|
| 9 |
Carriage account is a/an |
- A. asset account
- B. revenue account
- C. expenditure A/c
- D. withdrawal account
|
| 10 |
Purchased goods on credit and for cash will affect |
- A. cash & goods
- B. cash & creditors
- C. cash creditors & owner's equity
- D. cash goods and creditors
|