| 1 |
When bank column of a cash book shows a credit balance, it means: |
- A. Cash balance
- B. Bank balance
- C. Under draft
- D. Over draft
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| 2 |
A Journal is generally kept on: |
- A. A columnar basis
- B. A row basis
- C. A single line basis
- D. Vertical basis
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| 3 |
A bank reconciliation statement is prepared by: |
- A. banker
- B. Accountant of the business
- C. Statutory auditors
- D. Rigistar
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| 4 |
A bill from the point of view of a debtor is called |
- A. Bill Acceptable
- B. Bill Receivable
- C. Bill Payable
- D. None of these
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| 5 |
The act of withdrawing a bill of exchange from circulation when it had been paid before the due date |
- A. Renewal of a Bill
- B. Discounting of a Bill
- C. Endorsement of a Bill
- D. Retiring of a Bill
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| 6 |
A bill of exchange is drawn by |
- A. Debtor
- B. Creditor
- C. Endorser
- D. Endorsee
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| 7 |
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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| 8 |
When a bill is discharged the acceptor debits: |
- A. Creditors account
- B. Cash account
- C. Bill payable account
- D. Bill receivable account
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| 9 |
The Legal tenor of a bill is |
- A. Sixty Days
- B. One Month
- C. Eighty Days
- D. Ninety Days
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| 10 |
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
|