| 1 |
In double entry system of bookkeeping every business transaction affects: |
- A. Debit or credit side of the same account
- B. Two accounts
- C. The same side of the same account
- D. None of the above
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| 2 |
A schedule of balances of all accounts is called |
- A. Journal
- B. Ledger
- C. Balance Sheet
- D. Trial Balance
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| 3 |
Which of the following normally has a credit balance |
- A. Machinery a/c
- B. Purchases a/c
- C. Stock a/c
- D. Sales a/c
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| 4 |
The Principle book of accounts is |
- A. Journal
- B. Ledger
- C. Trial Balance
- D. Balance Sheet
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| 5 |
Bill receivable account is a: |
- A. Nominal account
- B. Personal account
- C. Real account
- D. Expenses account
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| 6 |
All the transactions recorded to credit sales are recorded in: |
- A. Sale return book
- B. Sales book
- C. Cash book
- D. Debtor's book
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| 7 |
Book-keeping is mainly concerned with: |
- A. Recording of business transactions
- B. Recording classifying and summarizing the recorded data
- C. Interpreting the recorded data
- D. None of the above
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| 8 |
The Amount of salary paid to Sohail should be debited to |
- A. Sohail's a/c
- B. Cash Account
- C. Salaries a/c
- D. Both a & c
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| 9 |
A table lost by fire should be debited to |
- A. Table a/c
- B. Furniture a/c
- C. Loss by Fire a/c
- D. Purchases a/c
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| 10 |
Salary outstanding account relevant to: |
- A. Representative personal account
- B. Artificial person's account
- C. Natural persons account
- D. Nominal accounts
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