| 1 |
The creditor of the business are called: |
- A. Assets
- B. Liabilities
- C. Capital
- D. Income
|
| 2 |
Net Sales represent |
- A. Sales - return outwards
- B. Sales - return inwards
- C. Sales - return to supplier
- D. both b and c
|
| 3 |
The account of depreciation of building of Rs. 30,000 at 5% p.a. will be |
- A. Rs. 20,00
- B. Rs. 15,00
- C. Rs. 25,00
- D. Rs. 5,00
|
| 4 |
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
|
| 5 |
Interest paid on loan is |
- A. Abnormal Loss
- B. Financial Expenses
- C. Management Expenses
- D. Maintenance Expenses
|
| 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 |
Income received in advance during the year is |
- A. Prepaid Expenses
- B. Accrued Income
- C. Advance Expenses
- D. Advance Income
|
| 8 |
From business point of view, interest on capital is considered as |
- A. An income
- B. An Expense
- C. A Profit
- D. A Liability
|
| 9 |
Bad debts recovered should be credited to |
- A. Balance Sheet
- B. Trading a/c
- C. Profit & Loss a/c
- D. None of these
|
| 10 |
The debts, the recovery of which is uncertain are called |
- A. Unbelievable debts
- B. unrealized debts
- C. doubtful debts
- D. both b and c
|
