Question # 1

The revenue that has not become due, but received in cash in current year is known as

Choose an answer

Revenue received in advance

Accrued revenue

Unearned revenue

Both a & c

The system of accounting in which accounting entries are made only when cash received or paid is known as

Choose an answer

Cash system

Accrual system

Mercantile system

Single system

Provision for the doubtful debts is debited to

Choose an answer

Debtors a/c

Provision for bad debts a/c

Profit or loss a/c

Bad debts recovered a/c

The debts, which are irrecoverable from the debtors, are called

Choose an answer

Debts

Doubtful debts

Bad debts

Good debts

Bad debts recovered from debtors should be credited to

Choose an answer

Debtors a/c

Bad debts a/c

Bad debts recovered a/c

Cash a/c

Deprecation is

Choose an answer

A Liability

A loss

An expense

Both b & c

All those expenses which have become due but not paid are called

Choose an answer

Accrued revenue

Prapaid revenue

Outstanding expenses

Advance expenses

Patent is an example of

Choose an answer

Assets

Liabilities

Income

Expense

Outstanding expense given in adjustment is called

Choose an answer

An asset

A gain

An expense

A liability

Income tax paid is a

Choose an answer

Business expense

Revenue for business

Liability of business

Personal expense

The debts, the recovery or realization of which is uncertain are known as

Choose an answer

Bad bets

Doubtful debts

Provision for doubtful debts

Loan

More Classes

Other Links

Principles of accounting Icom Part 1 English Medium Chapter 10 Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer