[{"id":59026,"question":"Narration is always written:","choices":[{"text":"Above each entry","value":"A"},{"text":"Below each entry","value":"B"},{"text":"Between of each entry","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":59025,"question":"Nominal account are related to:","choices":[{"text":"Assets and liabilities","value":"A"},{"text":"Expenses, losses and incomes","value":"B"},{"text":"Customers, creditors etc","value":"C"},{"text":"Capital account","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":59023,"question":"Real accounts are related to:","choices":[{"text":"Assets","value":"A"},{"text":"Expenses,  losses and incomes","value":"B"},{"text":"Customers,  creditors","value":"C"},{"text":"Incomes","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":59022,"question":"The concept of conservation will have the effect of:","choices":[{"text":"Understatement of assets","value":"A"},{"text":"Under statement of liabilities","value":"B"},{"text":"Overstatement of assets","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":59021,"question":"Any activity undertaken for the purpose of earning profit is called:","choices":[{"text":"Performance","value":"A"},{"text":"Dealing","value":"B"},{"text":"Business","value":"C"},{"text":"Duties","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":59019,"question":"Which cash is paid or received in an exchange the transaction is called:","choices":[{"text":"Sale transaction ","value":"A"},{"text":"Cash transaction","value":"B"},{"text":"Credit transaction","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":59016,"question":"The expenditures which reduce revenue (profit) of the business are:","choices":[{"text":"Revenue expenditures","value":"A"},{"text":"Capital expenditure","value":"B"},{"text":"Fixed expenditures","value":"C"},{"text":"Future expenditures","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":59014,"question":"The balance of the trading account is the transferred to:","choices":[{"text":"Profit and loss account","value":"A"},{"text":"Balance sheet","value":"B"},{"text":"Work sheet","value":"C"},{"text":"Position statement","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":59011,"question":"Trading account is the account which is prepared to determine the:","choices":[{"text":"Only gross profit of the business","value":"A"},{"text":"Only gross loss of the business","value":"B"},{"text":"Gross pro0fit or the gross loss of the business","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":59010,"question":"Bill receivable account is a:","choices":[{"text":"Nominal account","value":"A"},{"text":"Personal account","value":"B"},{"text":"Real account","value":"C"},{"text":"Expenses account","value":"D"},{"value":"E"}],"correctAnswer":2}]