Question # 1

How many methods are available to calculate the profit or loss under single entry system,

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One

Two

Three

Four

How many mathods are available to calculate the profit or loss under single entery system.

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One

Two

Three

Four

Consignor is also called.

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Principal

Agent

Debtor of the consignee

Creditor of the consignee

The difference of the two sides of receipt and payment account represents.

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Opening cash balance

Closing cash or bank balance

Opening bank balance

None of these

The income through admissionfee shoul dbe.

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Capitalized

Treated as revenue

Treated as liability

An expenses

All transactions relating to non-profit seeking concerns are recorded in the books of account strictly according to

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Single entry system

Double entry system

Treble entry system

"a" and "b"

Consignee is.

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A principal

An agent

A debtor

A creditor

Income and expenditur eaccount is prepared on.

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Cash basis

Accrual basis

Cahs of accural basis

None of these

Income and expenditure account shows

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Cash in hand

Surplus or deficit

Cash at bank

Capital account

The persons who have entered two partnership are individually called.

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Agents

Partners

A firm

Vendor

In consignmetn all the expenses either paid by the consiger himself or by the consignee are born by the.

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Consignor

purchaser

Consignee

None of these

For the stock unsoled with the consignee wil the debited in the books of the consignor.

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Stock on consignment account

Consignment

Consignee account

None of the above

On the detah of the partner the amount of the joint policy credited to the capital account of.

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Remaining partners capital account

All partners capital accounts

Deceased parners capital account

None of these

Cash received from the debtors can be find out by preparing.

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Debtors account

Creditors account

Balance sheet

Trial balance

Reserve for bad and doubtful debts appearing in the books of accounts at the time of dissolution shuld be transferred to.

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Realization account

Revalution account

Debtors account

None of these

If the credit side of the income oand expenditur eaccount is greater it is termed as.

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Deficit

Surplus

Asset

Liability

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