Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	The system of recording transaction based on dual concept is called	Double account system Double entry system Single entry system Management system
2	If sales return for Rs. 3,000 were incorrectly included in sales book, gross profit will be	overstated by Rs. 3,000 understated by Rs. 6,000 understated by Rs. 3,000 overstated by Rs. 6,000
3	Which account will be created in the presence of suspense account, if sales book is undercast by Rs. 500	suspense A/c sales A/c cash A/c none of above
4	If the error committed in the capital account, it will affect	trading account profit & loss account trading and profit & loss account balance sheet
5	Any difference in trial balance is transferred to	sales account nominal account purchases account suspense account

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