| 1 |
Cash account is a: |
- A. Personal account
- B. Real account
- C. Nominal account
- D. Both real and personal account
|
| 2 |
The payments side of the cash book is undercast by Rs. 200, when overdraft as per bank statement i s the starting points: |
- A. Rs. 200 will be deducted
- B. Rs. 200 will be added
- C. Rs. 400 will be added
- D. Rs. 400 will be deducted
|
| 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 |
The person to whom a bill is addressed is the: |
- A. Debtor
- B. Creditor
- C. Holder
- D. Agent
|
| 5 |
Goods withdrawn by the proprietor for personal use should be credited to |
- A. Purchase a/c
- B. Drawings a/c
- C. Expenses a/c
- D. Revenue a/c
|
| 6 |
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
|
| 7 |
The bad debts which are showed in the trial balance are called |
- A. new bad debts
- B. old bad debts
- C. further bad debts
- D. additional bad debts
|
| 8 |
Profit & Loss a/c is prepared to ascertain |
- A. Gross Profit
- B. Net Profit
- C. Gross Loss
- D. Real Profit
|
| 9 |
Net Sales represent |
- A. Sales - return outwards
- B. Sales - return inwards
- C. Sales - return to supplier
- D. both b and c
|
| 10 |
Net Profit is transferred to |
- A. Trading Account
- B. Balance Sheet
- C. Capital a/c
- D. Trial Balance
|
