Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Which cash is paid or received in an exchange the transaction is called:	Sale transaction  Cash transaction Credit transaction None of the above
2	The expenditures which reduce revenue (profit) of the business are:	Revenue expenditures Capital expenditure Fixed expenditures Future expenditures
3	The balance of the trading account is the transferred to:	Profit and loss account Balance sheet Work sheet Position statement
4	Trading account is the account which is prepared to determine the:	Only gross profit of the business Only gross loss of the business Gross pro0fit or the gross loss of the business None of the above
5	Bill receivable account is a:	Nominal account Personal account Real account Expenses account

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