| 1 |
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
|
| 2 |
Contain all residual account |
- A. Debtors Ledger
- B. Creditors Ledger
- C. General Ledger
- D. Cash Ledger
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| 3 |
Bill receivable account is a: |
- A. Nominal account
- B. Personal account
- C. Real account
- D. Expenses account
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| 4 |
The balance of the trading account is the transferred to: |
- A. Profit and loss account
- B. Balance sheet
- C. Work sheet
- D. Position statement
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| 5 |
The first successful step of Double Entry System is |
- A. Leger
- B. Journal
- C. Final Account
- D. Trial Balance
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| 6 |
The Principle book of accounts is |
- A. Journal
- B. Ledger
- C. Trial Balance
- D. Balance Sheet
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| 7 |
Journal is prepared in |
- A. Columnar form
- B. Vertical form
- C. Horizontal form
- D. Row form
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| 8 |
A trial balance can be constructed by |
- A. Three Methods
- B. Two Methods
- C. Four Methods
- D. Five Methods
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| 9 |
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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| 10 |
The statement which contains the explanation of different in cash book and bank statement is known as: |
- A. Bank statement
- B. Cash statement
- C. Balance statement
- D. Bank reconciliation statement
|