Question # 1

Net loss is transferred in balance sheet to

Choose an answer

Capital

Losses

Assets

Deferred losses

A bill of exchange is accepted by:

Choose an answer

Drawer

Payee

Drawee

Bank

The process of recording business transactions in the journal is called

Choose an answer

Posting

Classifying

Journalising

Entry

Debit balance of cash book is also called

Choose an answer

Unfavourable balance

Favourable balance

Negative balance

Both un favourable and favourable balance

Business debts are also called is

Choose an answer

Capital

Liabilities

Drawing

Assets

Important types of ledger are

Choose an answer

General ledger

Proprietor ledger

Creditors ledger

General ledger & creditor ledger bot

Carriage paid on purchase of furniture is a

Choose an answer

Revenue expenditure

Capital expenditure

Revenue Loss

Capital loss

Trial balance is prepared to detect

Choose an answer

Errors of omission

Compensating errors

Errors of commission

Errors of principles

The amount of cash or goods with drawn by the proprietor for personal use is called:

Choose an answer

Expenses

Revenue

Capital

Drawings

To any business bad debts is

Choose an answer

An asset

An Income

A loss

A liability

Any physical that has money value is

Choose an answer

Transaction

Asset

Intangible asset

Goodwill

More Classes

Other Links

NAT I Commerce Accounting MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer