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Question-1
A------------- is created for some specific object
(A)
Provision
(B)
Reserve
(C)
Depreciation
(D)
None of these
Question-2
A----------- is created for some specific object
(A)
Provision
(B)
Reserve
(C)
Depreciation
(D)
None of these
Question-3
When the reserve is invented in out side securities, it is known as ----------
(A)
Capital reserve
(B)
Secret reserve
(C)
Reserve fund
(D)
Provision
Question-4
A --------- is created after ascertaining the profit
(A)
Provision
(B)
Reserve
(C)
Depreciation
(D)
None of these
Question-5
Capital profits are used to write off the--------------- of the company
(A)
Revenue losses
(B)
Capital losses
(C)
None of these
(D)
Both of these
Question-6
Reserve which are not shown in balance sheet are called--------------
(A)
Capital reserve
(B)
Revenue reserve
(C)
Secret reserve
(D)
None of these
Question-7
Find out the odd one and state reason
(A)
To provide funds for known liability in future
(B)
To calculate the correct net profit
(C)
To find out the true financial position
(D)
Fulfilling some specific purpose
Question-8
A----------- is meant for meeting an unanticipated situation
(A)
Reserve
(B)
Provision
(C)
Depreciation
(D)
None of these
Question-9
If any reserve is created for definite purpose, it is known as --------------
(A)
General reserve
(B)
Specific reserve
(C)
None of these
(D)
Both of these
Question-10
Provision is a charge against-----------
(A)
Profit
(B)
Asset
(C)
Liability
(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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