| 1 |
Outstanding expense given in adjustment is called |
- A. An asset
- B. A gain
- C. An expense
- D. A liability
|
| 2 |
A gradual decrease in the value of fixed assets is called |
- A. Reduction
- B. Revaluation
- C. Deprecation
- D. None of these
|
| 3 |
The debts, the recovery or realization of which is uncertain are known as |
- A. Bad bets
- B. Doubtful debts
- C. Provision for doubtful debts
- D. Loan
|
| 4 |
The debts, which are irrecoverable from the debtors, are called |
- A. Debts
- B. Doubtful debts
- C. Bad debts
- D. Good debts
|
| 5 |
The system of accounting in which accounting entries are made only when cash received or paid is known as |
- A. Cash system
- B. Accrual system
- C. Mercantile system
- D. Single system
|
| 6 |
Bad debts are business |
- A. Expenses
- B. Liabilities
- C. Assets
- D. Revenue
|
| 7 |
Wages paid of installing a machine should be debited to |
- A. Wages a/c
- B. cash a/c
- C. Machinery a/c
- D. None of these
|
| 8 |
Deprecation is |
- A. A Liability
- B. A loss
- C. An expense
- D. Both b & c
|
| 9 |
Patent is an example of |
- A. Assets
- B. Liabilities
- C. Income
- D. Expense
|
| 10 |
All those expenses which have become due but not paid are called |
- A. Accrued revenue
- B. Prapaid revenue
- C. Outstanding expenses
- D. Advance expenses
|
