| 1 |
Contra Refers to |
- A. Same Side
- B. Parallel Side
- C. Opposite Side
- D. None of these
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| 2 |
In accounting all business transactions are recorded which have: |
- A. Dual aspect
- B. Single aspect
- C. None of the above
- D. Economic aspect
|
| 3 |
The balance of petty cash book is a/an |
- A. Asset
- B. Liability
- C. Expense
- D. Income
|
| 4 |
The document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called: |
- A. Receipt voucher
- B. Payment voucher
- C. Cash voucher
- D. Cash memo
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| 5 |
All the time of endorsement of a bill the drawer credits: |
- A. The drawee account
- B. The endorser's personal account
- C. Bill receivable account
- D. Endorser's account
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| 6 |
In form journal, the first column represents: |
- A. Ledger Folio
- B. Data
- C. Amount
- D. Debit
|
| 7 |
When saleable goods are bought in a business are called: |
- A. Sales
- B. Purchase
- C. Assets
- D. Goods
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| 8 |
Bank Reconciliation represents |
- A. A Journal
- B. A Ledger
- C. A Statement
- D. both a and c
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| 9 |
Retiring a bill under rebate means: |
- A. Making payment for the bill before the due date
- B. Making payment for the bill after the due date
- C. Dishonouring bill
- D. None of the above
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| 10 |
In journalizing the page numbers of the ledgers are written in: |
- A. The first column of journal
- B. The second column of journal
- C. The third column of journal
- D. The fourth column of journal
|