| 1 |
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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| 2 |
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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| 3 |
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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| 4 |
Trading account is the account which is prepared to determine the: |
- A. Only gross profit of the business
- B. Only gross loss of the business
- C. Gross pro0fit or the gross loss of the business
- D. None of the above
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| 5 |
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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| 6 |
The process of recording business transaction in the journal is called |
- A. Posting
- B. Journalizing
- C. Classifying
- D. Entry
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| 7 |
A bill of exchange is drawn by: |
- A. A debtor
- B. A creditor
- C. A holder
- D. Endorsee
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| 8 |
Left hand side of an account is called |
- A. Debit Side
- B. Credit Side
- C. Both a & b
- D. None of these
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| 9 |
A transaction is recorded on the same days as its takes place, so journal is also called: |
- A. A day book
- B. A history book
- C. An entry book
- D. Ledger book
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| 10 |
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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