| 1 |
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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| 2 |
A bank reconciliation statement is prepared by: |
- A. banker
- B. Accountant of the business
- C. Statutory auditors
- D. Rigistar
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| 3 |
Nominal account are related to: |
- A. Assets and liabilities
- B. Expenses, losses and incomes
- C. Customers, creditors etc
- D. Capital account
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| 4 |
A bill which is both drawn and payable within the geographical boundaries of a country |
- A. Foreign Bill
- B. Local Bill
- C. Municipal Bill
- D. Inland Bill
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| 5 |
Narration is always written: |
- A. Above each entry
- B. Below each entry
- C. Between of each entry
- D. None of these
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| 6 |
When a drawer discounts a bill, he debits |
- A. Bank Account
- B. Interest Account
- C. Drawee Account
- D. Bill Receivable Account
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| 7 |
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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| 8 |
When is a drawee is declared insolvent which account is to be debited in the books of drawer |
- A. Deficiency a/c
- B. Bad Debts a/c
- C. Solvency a/c
- D. None of these
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| 9 |
Subsidiary books are called the book of: |
- A. Original entry
- B. Secondary entry
- C. Temporary entry
- D. Basic entry
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| 10 |
Any activity undertaken for the purpose of earning profit is called: |
- A. Performance
- B. Dealing
- C. Business
- D. Duties
|