| 1 |
If the error committed in the capital account, it will affect |
- A. trading account
- B. profit & loss account
- C. trading and profit & loss account
- D. balance sheet
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| 2 |
Receipts, which are non-recurring by nature, are called |
- A. revenue receipts
- B. current receipts
- C. capital receipts
- D. capital profit
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| 3 |
Raw material destroyed in fire represents |
- A. capital loss
- B. revenue loss
- C. normal loss
- D. both b, c
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| 4 |
Suspense means |
- A. certainty
- B. uncertainty
- C. surly
- D. none of these
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| 5 |
Which account will be created in the presence of suspense account, if sales book is undercast by Rs. 500 |
- A. suspense A/c
- B. sales A/c
- C. cash A/c
- D. none of above
|
| 6 |
The capital profit should be transferred to: |
- A. Profit and loss account
- B. Trading account
- C. Balance Sheet
- D. Both Trading and profit and loss account and balance sheet
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| 7 |
The process of totaling the data at the end of the period is called |
- A. posting
- B. casting
- C. compensating
- D. recording
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| 8 |
An expenditure incurred in increasing the efficiency of a fixed asset is called: |
- A. Revenue expenditure
- B. Capital expenditure
- C. Current expenditure
- D. None of these
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| 9 |
Premium on issue of shares of a company represents |
- A. capital loss
- B. capital profit
- C. capital payment
- D. none of these
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| 10 |
Which one of the following is appeared in the balance sheet ? |
- A. revenue expenditure
- B. capital expenditure
- C. deferred revenue
- D. both b,c
|