NAT I Commerce Accounting With Answers

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NAT I Commerce Accounting

Sr. # Questions Answers Choice
1 Which of these is a fixed asset: Cash Plant Stock Prepaid expenses
2 Which of these accounts is increased by credit entries: Machinery A/c Rent A/c Sales A/c Purchase A/c
3 Cash sales are recorded in Sales book Purchase book Cash book Pass book
4 Goods returned to supplier should be credited to: Supplier A/c Purchase return A/c Sales return A/c Purchases A/c
5 The modern system of book keeping is based on: Double account system Single entry system Single account system Double entry system
6 Nominal accounts are related to: Assets Creditors Liabilities Expenses + Income
7 A bill of exchange is accepted by: Drawer Payee Drawee Bank
8 Accounting is called of business: Heart Ear Tongue Eye
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