Question # 1

Errors of affect one account can be

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Errors of principle

Errors of posting

Errors of omission

None of these

Cash account is a:

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Personal account

Real account

Nominal account

Both real and personal account

Capitalized expenditures are shown in

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trading A/c

profit & loss A/c

income statement

balance sheet

Both cash purchases as well as credit purchases are recorded in

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Cash book

Purchase book

Purchases account

None of these

Pass book is prepared by

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Debtor

Creditor

Banker

Customer

Provision for the doubtful debts is debited to

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Debtors a/c

Provision for bad debts a/c

Profit or loss a/c

Bad debts recovered a/c

Bank for collection is a

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Permanent Account

Fixed Account

Current Account

Temporary Account

Goodwill, patent, copyright are classified as

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Current Assets

Fixed Assets

Tangible Assets

Wasting Assets

Bank account is a:

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Personal account

Real account

Nominal account

None of these

All the time of endorsement of a bill the drawer credits:

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The drawee account

The endorser's personal account

Bill receivable account

Endorser's account

If the total of the credit side of an account exceeds that of debit side of the same account, it is called

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Credit Balance

Debit Balance

Balancing

Zero Balance

The joint stock company is formed under companies ordiance.

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1984

1974

1884

1962

A person who purchases the share of the company becomes its.

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Share holder

Debenture holder

Under writer

Promoter

Where a partner become unsound mind the dissolution is considered as.

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Dissolution by court

Dissolution by Notice

Dissolution by agreement

Compulsory dissolution

Non-profit seeking organizations prepare

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Manufacturing account

Trading account

Income and expenditure account

Profit and loss account

Abnormal loss arises due to.

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Natural causes

Evaporation drying breaking in bulk

Pilferage , theft fire etc.

Some unavoidable causes

Depreciation arise because of

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Due to fall in the market value of fixex assets

Due to physical wear and tear of the assets

Due to fall in the market value

None of these

In case of dissolution, assets sold for cash are debited to.

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Realization account

Cash account

Assets account

None of these

the activities of non -trading concern are managed by the.

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Directors

Member

governing body

Promoters

Cash book is prepared to find out the figure of.

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Opening capital

Crosing cash balance

Net profit

Finaincial position

Due to fresh capital introduced during the year, the closing capital will,

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Increase

Decrease

Constant

Multiply

The main sources of income of for on -trading concern is.

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Subscriptions

Donations

Sales

Dividends on investment

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