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Accountancy
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Question-1
_________ of the provision years became the opening stock of the current year.
(A)
Opening stock
(B)
Closing stock
(C)
Sales
(D)
Purchases
Question-2
For the preparation of ________ it is not necessary to close the accounts.
(A)
Profit & Loss A/c
(B)
Trading a/c
(C)
Balance sheet
(D)
Trial Balance
Question-3
Spot out the odd one and state reason
(A)
Freight
(B)
Carriage inwards
(C)
Carriage on purchase
(D)
Carriage on sale
Question-4
Balance sheet present the financial position of a concern based on the principle of __________.
(A)
dual aspect
(B)
business entity
(C)
going concern
(D)
All of these
Question-5
At the time of preparation of trial balance, the valuation of closing stock is ____________
(A)
Optional
(B)
Compulsory
(C)
None of these
(D)
All of these
Question-6
A _______ will, naturally, have no opening stock in the first year.
(A)
Existing business
(B)
New business
(C)
Proposed business
(D)
None of these
Question-7
Balance of P & L a/c is transferred to ________ a/c.
(A)
P & L Appropriation a/c
(B)
Balance sheet
(C)
Capital a/c
(D)
None of these
Question-8
Only personal and real a/cs are shown on _________.
(A)
P & L a/c
(B)
Trading a/c
(C)
Balance Sheet
(D)
None of these
Question-9
_______ are liabilities which have not arrives but may arrive upon the happening of a certain event.
(A)
Contingent liabilities
(B)
External liabilities
(C)
Internal liabilities
(D)
None of these
Question-10
Liability for bills discounted is an example of ______ liability
(A)
Current
(B)
Fixed
(C)
Contingent
(D)
None of these
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Practice in Related Chapters
Introduction Of Accounting
Concepts, Standards And Basis
Classification Of Accounts Under Double Entry System And Accounting Equation
Ledger
Trial Balance
Final Accounts Or (Financial Statements)
Journal
Sub-Division Of Journal : Cash Book
Sub-Division Of Journal : Specified purpose Subsidiary
Bank Reconciliation Statement
Rectification Of Errors
Capital And Revenue Expenditure/Income
Depreciation Accounting
Provisions And Reserves
Single Entry System : Accounts From Incomplete Records
Accounts of Non Trading Organization
Bills of Exchange
Introduction To The Use Of Computers In Accounting
Accounting concepts,standards and basis
Introduction to Accounting
Depreciation, Provision and Reserves
Trial Balance and Rectification of Errors
Depreciation, Provision and Reserves
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