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Question-1
Find the odd one and state the reason
(A)
Credit sale
(B)
Discount allowed
(C)
Sales returns
(D)
Return outwards
Question-2
Capital accounts are not prepared under--------------- system
(A)
Single entry
(B)
Double entry
(C)
None of these
(D)
Both of these
Question-3
To get profit, closing capital is adjusting by------------ drawing
(A)
Adding
(B)
Deducting
(C)
Dividing
(D)
Balancing
Question-4
Which of the following statements is correct in respect of returns inwards?
(A)
Deducted from sale
(B)
Credited to total debtors account
(C)
None of them
(D)
Both of them
Question-5
Which of the following items of bill payable account are transferred to total creditors account?
(A)
Closing balance of bills payable
(B)
Bills payable dishonored during the year
(C)
Opening balance of bills payable
(D)
Bills payable issued during the year
Question-6
Which of the following statements is correct in respect of returns outwards?
(A)
Deducted from purchases
(B)
Debited to total creditors
(C)
None of them
(D)
Both of them
Question-7
Cash account will not be affected by
(A)
Bad debts
(B)
Cash received from customers
(C)
Discount allowed
(D)
All of the above
Question-8
Analysis of accounting is not possible through ______________ system of accounting
(A)
Single entry
(B)
Double entry
(C)
Cost accounting
(D)
Management
Question-9
In the case of incomplete records a ------------ picture of all transaction will be available
(A)
Full
(B)
Complete
(C)
Partial
(D)
None of these
Question-10
Books maintained under double entry system are less reliable because of -------------
(A)
They are based on facts
(B)
They are based on estimates
(C)
None of these
(D)
Both 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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