| 1 |
All those expenses which are incurred to convert raw-materials into finished goods are called: |
- A. Direct expenses
- B. Indirect expenses
- C. Administrative expenses
- D. Sales expenses
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| 2 |
Subsidiary books are called the book of: |
- A. Original entry
- B. Secondary entry
- C. Temporary entry
- D. Basic entry
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| 3 |
The Legal tenor of a bill is |
- A. Sixty Days
- B. One Month
- C. Eighty Days
- D. Ninety Days
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| 4 |
The person to whom bill is transferred will become |
- A. Endorser
- B. Creditor
- C. Debtor
- D. Endorsee
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| 5 |
A bank reconciliation statement is prepared by: |
- A. banker
- B. Accountant of the business
- C. Statutory auditors
- D. Rigistar
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| 6 |
Retiring a bill under rebate means |
- A. Payment of Bill Before Due Date
- B. Payment of Bill After due date
- C. Discounting of a Bill
- D. Dishonouring of a Bill
|
| 7 |
How many parties are involved in case of Discounting of a bill ? |
- A. Two
- B. Three
- C. Four
- D. None of these
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| 8 |
The transaction for which non separate book is maintained are recorded in: |
- A. Journal proper
- B. Bills receivable book
- C. Bills payable book
- D. Cash book
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| 9 |
When a Bill is dishonoured, the holder of the bill goes to an official called |
- A. Inspector
- B. Notary Public
- C. Drawer
- D. Manager
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| 10 |
Bank for collection is a |
- A. Permanent Account
- B. Fixed Account
- C. Current Account
- D. Temporary Account
|