NAT I Commerce Accounting With Answers

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NAT I Commerce Accounting

Sr. # Questions Answers Choice
1 The amount of salaries paid to javed should be credited to Javed A/c Cash A/c Salaries A/c None of these
2 Discount received is a Asset Revenue Liability Expenses
3 The person to whom goods are sold on credit is called Seller Creditor Debtor Buyer
4 Accounting is the language of Govt Trade Business Commerce
5 To any business bad debts is An asset An Income A loss A liability
6 Goods returned by a customer should be debited to Sales A/c Customer A/c Purchase A/c Sales return A/c
7 The person who draws a bill of exchange is known as Drawer Payee Drawee Bank
8 Which of the following account is increased by debit entries Capital A/c Building A/c Sales A/c Purchase return A/c
9 Carriage paid on purchase of furniture is a Revenue expenditure Capital expenditure Revenue Loss Capital loss
10 Credit sales are recorded in Cash book Purchase book Sales book Pass book
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