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Question-1
Tax which is paid to government on import and export of goods is known as _________.
(A)
Import & Export duty
(B)
Customs duty
(C)
Both a and b
(D)
None of these
Question-2
Profit and loss of the firm cannot be revealed through
(A)
Profit & Loss a/c
(B)
Balance Sheet
(C)
Trial Balance
(D)
None of these
Question-3
Profit and Loss Account is a __________ in nature on a particular date.
(A)
Nominal
(B)
Personal
(C)
Real
(D)
None of these
Question-4
The word ________ means showing the account of similar nature under a particular reading.
(A)
Grouping
(B)
Balancing
(C)
Posting
(D)
Journalizing
Question-5
Office and administration expenses is an/a__________ expenses
(A)
Direct
(B)
Indirect
(C)
None of these
(D)
All of these
Question-6
Fictitious assets are also called as ________.
(A)
Wasting asset
(B)
Nominal asset
(C)
Liquid asset
(D)
None of these
Question-7
_______ 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-8
Wages is a ________ expenses
(A)
Direct
(B)
Indirect
(C)
None of these
(D)
All of these
Question-9
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-10
Net Loss will be _________ from the Capital account.
(A)
Debited
(B)
Deducted
(C)
Both a and b
(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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