Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Errors of affect one account can be	Errors of principle Errors of posting Errors of omission None of these
2	Preliminary expenses paid in the formation of a company is a	Capital expenditure Deferred expenditure Revenue expenditure Capital loss
3	Capitalized expenditure are shown in	Trading a/c Profit or loss a/c Income statement Balance sheet
4	Distinction between capital and revenue items is important for the preparation	Balance sheet Trading and profit or loss a/c Bank reconciliation statement Both a & b
5	Heavy expenditure on advertisement for making a new product is a	Revenue expenditure Deferred expenditure Capital loss Non-recurring expenditure

News