| 1 |
The debts, the recovery of which is uncertain are called |
- A. Unbelievable debts
- B. unrealized debts
- C. doubtful debts
- D. both b and c
|
| 2 |
Interest paid on loan is |
- A. Abnormal Loss
- B. Financial Expenses
- C. Management Expenses
- D. Maintenance Expenses
|
| 3 |
In adjusting the cash balance one of the following is not taken into account: |
- A. Mistakes in the cash book
- B. Mistake in the bank statement
- C. Interest and dividends credited in the bank statement
- D. None of the abvove
|
| 4 |
Interest on drawing is debited to |
- A. Capital
- B. Drawings
- C. Sundry Creditors
- D. Outstanding expense
|
| 5 |
Net Sales represent |
- A. Sales - return outwards
- B. Sales - return inwards
- C. Sales - return to supplier
- D. both b and c
|
| 6 |
Any mistake in ledger can be easily detected with the help of: |
- A. Journal
- B. Balance sheet
- C. Trial balance
- D. Financial statement
|
| 7 |
The concession given by the supplier to the buyer on purchases of good is known as: |
- A. Sales discount
- B. Trade discount
- C. Purchase discount
- D. Discount received
|
| 8 |
Assets come into existence upon the happening of a certain event, are called: |
- A. Fixed assets
- B. Fictitious assets
- C. Floating assets
- D. Contingent assets
|
| 9 |
From business point of view, interest on capital is considered as |
- A. An income
- B. An Expense
- C. A Profit
- D. A Liability
|
| 10 |
The const concept applied only to the assets and not to: |
- A. Expenses
- B. Liabilities
- C. Incomes
- D. None of these
|
