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Question-1
Preliminary Expenses are shown under _________ head.
(A)
Investment
(B)
Current Asset
(C)
Misc.Expenditure
(D)
None of these
Question-2
Loose Tools are under the head _______.
(A)
Current Assets
(B)
Fixed Assets
(C)
Loans and Advances
(D)
None of these
Question-3
When shares of a company are issued at a price more than the face value, it is called
(A)
Issue of shares at premium
(B)
Issue of shares at discount
(C)
Issue of shares at par
(D)
None of these
Question-4
__________ is not an account.
(A)
Profit and Loss A/C
(B)
Trading
(C)
Balance sheet
(D)
None of these
Question-5
Bills Receivable are shown under the head ________.
(A)
Current Assets
(B)
Fixed Assets
(C)
Loans and Advances
(D)
None of these
Question-6
The account which shows the disposition of profit is called
(A)
Profit and Loss A/C
(B)
Profit and Loss Appropriation A/C
(C)
Trading A/C
(D)
None of these
Question-7
Income statement is also called
(A)
Profit and Loss Account
(B)
Trading Account
(C)
Balance sheet
(D)
None of these
Question-8
_________ are used for long time in business to earn profit.
(A)
Current Assets
(B)
Fixed Assets
(C)
All of these
(D)
None of these
Question-9
Financial Statements are the ________ of information to the interested parties.
(A)
Basic Sources
(B)
Not giving
(C)
All of these
(D)
None of these
Question-10
__________ are the end products of accountancy process.
(A)
Profit and Loss A/C
(B)
Trading A/C
(C)
Financial Statements
(D)
None of these
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Plus 2 Commerce
CBSE
Practice in Related Chapters
Accounting Not For Profit Organisation
Accounting for Partnership: Basic Concepts
Reconstitution of a Partnership Firm: Admission of a Partner
Dissolution of Partnersip Firm
Accounting for share capital
Issue and Redemption of Debentures
Financial Statements of a Company
Analysis Of Financial Statement
Cash Flow Statement
Accounting Ratios
Reconstitution of a Partnership Firm: Retirement/Death of a Partner
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