Question # 1

Which of the following account balance will be shown on debit side of trail balance ?

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Capital account

Sundry credit accounts

Cash account

Under the reducing balance method of depreciation :

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Amount of depreciation increase every year

Amount of depreciation remains constant for every year

Amount of depreciationdecrease every year

The allocation of the cost of a tangible plant asset to expenses in the periods ,in which service are received from the asset is termed as

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Appreciation

Depreciation

Fluctuation

None of the gievn

If you start with cash book favourable balance in Bank Reconciliation Statement which item will be added?

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cheaque deposited but not credit by the bank

Cheques omitted to be deposited into the bank

any amount directly collected by bank on behalf of customer but not recorded in cash book

Debit side cash book was overcast.

Which of the following is not an item of Balance Sheet?

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Accounts receivable

accounts payable

sales revenue

marketable securities

Income of the business includes:

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Cash sales only

Credit sales only

Credit purchase only

Both cash sales and credit sales

Which of the following account will be credited ,if business bought goods on credit from Mr.Ali?

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Purchase account

Mr.Ali account

Cash account

Sale account

According to double entry system of accounting,an accounting that obtain benefit is

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Debit

Credit

Income

_____ is the amount for which an assets could be exchanged between knowledge willing parties in a arm length transaction

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Present Value

Fair Value

Book Value

The amount brought propritier in the business should be credited to

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cash account

capital account

drawing account

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