[{"id":59165,"question":"The money with which business is started is known as:","choices":[{"text":"Capital","value":"A"},{"text":"Creditor","value":"B"},{"text":"Income","value":"C"},{"text":"Debtor","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":59164,"question":"Rent account' is a kind of:","choices":[{"text":"Real account","value":"A"},{"text":"Personal account","value":"B"},{"text":"Nominal account","value":"C"},{"text":"<div>Capital account</div>","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":59163,"question":"The creditor of the business are called:","choices":[{"text":"Assets","value":"A"},{"text":"Liabilities","value":"B"},{"text":"Capital&nbsp;","value":"C"},{"text":"Income","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":59162,"question":"The const concept applied only to the assets and not to:","choices":[{"text":"Expenses","value":"A"},{"text":"Liabilities","value":"B"},{"text":"Incomes","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":59161,"question":"Financial accounting is mainly confined to preparation of:","choices":[{"text":"Manufacturing statement","value":"A"},{"text":"Financial statements","value":"B"},{"text":"Production statement","value":"C"},{"text":"Sale statement","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":59160,"question":"The concession given by the supplier to the buyer on purchases of good is known as:","choices":[{"text":"Sales discount","value":"A"},{"text":"Trade discount","value":"B"},{"text":"Purchase discount","value":"C"},{"text":"Discount received","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":59069,"question":"The excess of gross profit on sale over total operating expenses is called:","choices":[{"text":"Cost of goods sold","value":"A"},{"text":"Gross profit","value":"B"},{"text":"Net profit","value":"C"},{"text":"None-operating income","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":59068,"question":"All the direct expenses are charged to:","choices":[{"text":"Balance sheet","value":"A"},{"text":"Profit and loss account","value":"B"},{"text":"Trading account","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":59067,"question":"Retiring a bill under rebate means:","choices":[{"text":"Making payment for the bill before the due date","value":"A"},{"text":"Making payment for the bill after the due date","value":"B"},{"text":"Dishonouring bill","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":59066,"question":"All the time of endorsement of a bill the drawer credits:","choices":[{"text":"The drawee account","value":"A"},{"text":"The endorser's personal account","value":"B"},{"text":"Bill receivable account","value":"C"},{"text":"Endorser's account","value":"D"},{"value":"E"}],"correctAnswer":3}]