Question # 1

Retiring a bill under rebate means:

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Making payment for the bill before the due date

Making payment for the bill after the due date

Dishonouring bill

None of the above

The most exhaustive cash book is

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Petty Cash Book

Single Column Cash Book

Double Column Cash Book

Treble Column Cash Book

Cash account is concerned with:

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Real account

Personal account

Nominal account

Capital account

In three column cash book, discount column is

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Totaled

Balanced

Carry Forward

Both a and b

An Entry which is recorded on the both sides of cash book is called

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Simple Entry

Compound Entry

Combined Entry

Contra Entry

Bank reconciliation statement is prepared by

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Banker

Customers Accountant

Auditor

Manager

The excess of gross profit on sale over total operating expenses is called:

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Cost of goods sold

Gross profit

Net profit

None-operating income

A cash account always shows

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Debit Balance

Credit Balance

Both a and b

Nil Balance

The rules of the debiting the receiving and crediting the giver is applicable to:

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Persona account

Real account

Nominal account

Expense account

The book in which all cash transactions are primarily recorded is called

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Cheque Book

Pass Book

Cash Book

Finance Book

Which column is prepared in single column cash book?

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Bank Column

Cash Column

Discount Column

All of the Above

Contra Refers to

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Same Side

Parallel Side

Opposite Side

None of these

Petty cash book is a branch of

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Pass Book

Cash Book

Journal

Ledger

Bank Reconciliation represents

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A Journal

A Ledger

A Statement

both a and c

How many columns are drawn on one side of three column cash book ?

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Five Columns

Six Columns

Seven Columns

Eight Columns

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Principles of accounting Icom Part 1 English Medium Chapter 4 Online Test MCQs With Answers

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