Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Subsidiary books are called books of	Original entry Secondary entry Final entry Basic entry
2	Acceptance to Mr. A was posted to the debit of B's account. The rectification of the entry will.	Increase the net profit Decrease the net profit Have double effect on net profit Have no effect on net profit
3	The revenue profit should be transferred to:	Balance sheet Trading account Profit and loss account None of these
4	The capital profit should be transferred to:	Profit and loss account Trading account Balance Sheet Both Trading and profit and loss account and balance sheet
5	Unearned income are known as:	Incomes Expenses Liabilities Assets

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