| 1 |
The balance of the 'Caha Column' in cash book is always: |
- A. Debit balance
- B. Credit balance
- C. Both debit and credit balance
- D. None of the above
|
| 2 |
From business point of view, interest on capital is considered as |
- A. An income
- B. An Expense
- C. A Profit
- D. A Liability
|
| 3 |
A bill from the point of view of a creditor is called a: |
- A. Bill payable
- B. Bill receivable
- C. Bil acceptable
- D. Bill rejectable
|
| 4 |
Cash account is a: |
- A. Personal account
- B. Real account
- C. Nominal account
- D. Both real and personal account
|
| 5 |
Income tax paid is a |
- A. Business Expense
- B. Business Revenue
- C. Business Liability
- D. Personal Expense
|
| 6 |
Gross profit is derived from |
- A. Trading a/c
- B. Profit & Loss a/c
- C. Trial Balance
- D. Balance Sheet
|
| 7 |
Net Profit is transferred to |
- A. Trading Account
- B. Balance Sheet
- C. Capital a/c
- D. Trial Balance
|
| 8 |
The person to whom a bill is addressed is the: |
- A. Debtor
- B. Creditor
- C. Holder
- D. Agent
|
| 9 |
Rent account' is a kind of: |
- A. Real account
- B. Personal account
- C. Nominal account
- D. <div>Capital account</div>
|
| 10 |
Wages paid for installing a machine should be debited to |
- A. Wages a/c
- B. Cash a/c
- C. Machinery a/c
- D. none of these
|
