[{"id":99281,"question":"The accrued income or outstanding income will appear in the balance sheet as","choices":[{"text":"An expense","value":"A"},{"text":"A liability","value":"B"},{"text":"An asset","value":"C"},{"text":"Both a & b","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99280,"question":"A prepaid expense is","choices":[{"text":"An asset","value":"A"},{"text":"A liability","value":"B"},{"text":"An expense","value":"C"},{"text":"An income","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":99279,"question":"The revenue that has not become due, but received in cash in current year is known as","choices":[{"text":"Revenue received in advance","value":"A"},{"text":"Accrued revenue","value":"B"},{"text":"Unearned revenue","value":"C"},{"text":"Both a & c","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99278,"question":"An income which has earned but not received is called","choices":[{"text":"Unearned income","value":"A"},{"text":"Accrued revenue","value":"B"},{"text":"Revenue received in advance","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99277,"question":"All those expenses which have not become due but paid in advance are called","choices":[{"text":"Accrued expenses","value":"A"},{"text":"Outstanding expenses","value":"B"},{"text":"Prepaid expenses","value":"C"},{"text":"Payable expenses","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99276,"question":"The accounting system in which accounting entries are made on the basis of amount having become due for payment or receipt, is called","choices":[{"text":"Cash system","value":"A"},{"text":"Accrual or mercantile system","value":"B"},{"text":"Outstanding system","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99274,"question":"All those expenses which have become due but not paid are called","choices":[{"text":"Accrued revenue","value":"A"},{"text":"Prapaid revenue","value":"B"},{"text":"Outstanding expenses","value":"C"},{"text":"Advance expenses","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99273,"question":"The system of accounting in which accounting entries are made only when cash received or paid is known as","choices":[{"text":"Cash system","value":"A"},{"text":"Accrual system","value":"B"},{"text":"Mercantile system","value":"C"},{"text":"Single system","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":99272,"question":"A balance sheet is a","choices":[{"text":"Statement of income and expenditure","value":"A"},{"text":"Statement of debtors and creditors","value":"B"},{"text":"Financial statement of a business on a particular date","value":"C"},{"text":"Statement of profit earned by a busniess","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99271,"question":"Expenses related to sale of goods are shown in","choices":[{"text":"Trading account","value":"A"},{"text":"Profit or loss account","value":"B"},{"text":"Balance sheet","value":"C"},{"text":"Sales account","value":"D"},{"value":"E"}],"correctAnswer":2}]