| 1 |
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
|
| 2 |
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
|
| 3 |
A Ledger is a book in which |
- A. Only Personal & Cash Accounts are Opened
- B. Only Real Accounts are Opened
- C. Only Nominal Accounts are Opened
- D. All Real, Nominal and Personal Accounts are Opened
|
| 4 |
In case of a debt becoming bad, the amount should be credited to |
- A. Debtor's a/c
- B. Bad Debts a/c
- C. Sales a/c
- D. cash a/c
|
| 5 |
The balance of the trading account is the transferred to: |
- A. Profit and loss account
- B. Balance sheet
- C. Work sheet
- D. Position statement
|
| 6 |
Journal means |
- A. Weekly
- B. Monthly
- C. Yearly
- D. Daily
|
| 7 |
Debit Signifies |
- A. Increase in Asset Account
- B. Decrease in Liability Account
- C. Decrease in Capital Account
- D. All of the Above
|
| 8 |
All the transactions recorded to credit sales are recorded in: |
- A. Sale return book
- B. Sales book
- C. Cash book
- D. Debtor's book
|
| 9 |
The Principle book of accounts is |
- A. Journal
- B. Ledger
- C. Trial Balance
- D. Balance Sheet
|
| 10 |
Bank account is a: |
- A. Personal account
- B. Real account
- C. Nominal account
- D. None of these
|