[{"id":99321,"question":"A statement which i prepared to ascertain the net income or net loss for a specific accounting period is called","choices":[{"text":"Position statement","value":"A"},{"text":"Statement of condition","value":"B"},{"text":"Financial statement","value":"C"},{"text":"Bank reconciliation statement","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99320,"question":"The excess of credit column over debit column in income statement is called","choices":[{"text":"Net loss","value":"A"},{"text":"Net profit","value":"B"},{"text":"Cash balance","value":"C"},{"text":"Gross profit","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99319,"question":"The amount of assets, liabilities, capital and drawings are extended form adjusted trail balance to the","choices":[{"text":"Balance sheet columns","value":"A"},{"text":"Income statement columns","value":"B"},{"text":"Cash columns","value":"C"},{"text":"Bank columns","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":99318,"question":"Financial statement is prepared from the amount given in","choices":[{"text":"Trail balance columns","value":"A"},{"text":"Adjustments columns","value":"B"},{"text":"Cash columns","value":"C"},{"text":"Adjusted trail balance columns","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99317,"question":"Which one of the following in used to simplify work, to be done at the end of period","choices":[{"text":"Balance sheet","value":"A"},{"text":"Income sheet ","value":"B"},{"text":"Bank statement","value":"C"},{"text":"Work sheet","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99316,"question":"A sheet which minimizes the chances of errors to the maximum possible extent is called","choices":[{"text":"Balance sheet","value":"A"},{"text":"Work sheet","value":"B"},{"text":"Paper sheet","value":"C"},{"text":"Income statement","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99315,"question":"Expired cost of fixed assets means","choices":[{"text":"Appreciation","value":"A"},{"text":"Amortization","value":"B"},{"text":"Depreciation ","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99314,"question":"In the preparation of the worksheet the amounts on the trail balance columns are taken directly from","choices":[{"text":"Journal","value":"A"},{"text":"Ledger","value":"B"},{"text":"Trail balance","value":"C"},{"text":"Transaction","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99313,"question":"The body of worksheet contains","choices":[{"text":"Two pairs of money column","value":"A"},{"text":"Three pairs of money column","value":"B"},{"text":"Four pairs of money column","value":"C"},{"text":"Five pairs of money column","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99312,"question":"Which one of the following is not considered the permanent part of the accounting record?","choices":[{"text":"Journal","value":"A"},{"text":"Trail balance","value":"B"},{"text":"Ledger","value":"C"},{"text":"Work sheet","value":"D"},{"value":"E"}],"correctAnswer":4}]