Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Interest due but not received is an	Outstanding expense Accrued income Prepaid expense Unearned income
2	From business point of view, Interest on capital is considered as	An income An expense A profit A liability
3	Deprecation is	A Liability A loss An expense Both b & c
4	A gradual decrease in the value of fixed assets is called	Reduction Revaluation Deprecation None of these
5	Outstanding expense given in adjustment is called	An asset A gain An expense A liability

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