Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Book-keeping is mainly concerned with:	Recording of business transactions Recording classifying and summarizing the recorded data Interpreting the recorded data None of the above
2	The errors in which amount have occurred on the opposite sides of two or more accounts and have concealed themselves in the net result, are:	Error of principle Errors of omission  Errors of commission Compensating error
3	Error due to wrong allocation as expenditure between capital and revenue is regarded as:	Error of omission Error of principle  Compensating errors Error of Commission
4	An expenditure incurred to the increases the profit earning of the concern is a:	Revenue expenditure Current expenditure Capital receipt Capital expenditure
5	An expenditure which is incurred again and again is a:	Capital expenditure Future expenditure Deferred expenditure Revenue expenditure

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