| 1 |
Receipts and payments account records the transactions of |
- A. Revenue nature
- B. Capital nature
- C. Revenue and capital nature
- D. None of these
|
| 2 |
The income through admissionfee shoul dbe. |
- A. Capitalized
- B. Treated as revenue
- C. Treated as liability
- D. An expenses
|
| 3 |
Capital fun of non trading concern is equal to. |
- A. Assets + Income
- B. Assets + Liabilities
- C. Expenditure + Liabilities.
- D. Assets - Liabilities
|
| 4 |
In cash book |
- A. Each entry is followed by narration
- B. Ledger reference is recorded
- C. Each transaction is recorded in chronological order
- D. All of the above
|
| 5 |
Income and expenditure account shows |
- A. Cash in hand
- B. Surplus or deficit
- C. Cash at bank
- D. Capital account
|
| 6 |
Debit side of income and expenditur eaccount records. |
- A. Expenses and losses
- B. Income and gains
- C. Assets
- D. Liabilities
|
| 7 |
The Receipt and payment account is the summery of the |
- A. Cash book
- B. Balance sheet
- C. Trqail balance
- D. Proft and loss account
|
| 8 |
Lagacies are generally treated as. |
- A. Income
- B. Capitalized
- C. Assets
- D. Liability
|
| 9 |
The difference of the two sides of receipt and payment account represents. |
- A. Opening cash balance
- B. Closing cash or bank balance
- C. Opening bank balance
- D. None of these
|
| 10 |
The account of non trading concern are generally maintained according to. |
- A. Mereantile accounging system
- B. Double entry system of book keeping
- C. Cash accounting system
- D. None of the above
|
