| 1 |
A schedule of balances of all accounts is called |
- A. Journal
- B. Ledger
- C. Balance Sheet
- D. Trial Balance
|
| 2 |
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
|
| 3 |
A trial balance can be constructed by |
- A. Three Methods
- B. Two Methods
- C. Four Methods
- D. Five Methods
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| 4 |
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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| 5 |
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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| 6 |
Payment of Rs. 50 to Raheel as wages for repairing machine should be debited to |
- A. Machinery a/c
- B. Repair a/c
- C. Wages a/c
- D. Raheel a/c
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| 7 |
Transaction are recorded data wise, so journal is also called: |
- A. Entry book
- B. Transaction book
- C. Chronological book
- D. Voucher
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| 8 |
The Principle book of accounts is |
- A. Journal
- B. Ledger
- C. Trial Balance
- D. Balance Sheet
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| 9 |
Debit Signifies |
- A. Increase in Asset Account
- B. Decrease in Liability Account
- C. Decrease in Capital Account
- D. All of the Above
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| 10 |
Contain all residual account |
- A. Debtors Ledger
- B. Creditors Ledger
- C. General Ledger
- D. Cash Ledger
|