Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Goods withdrawn by the proprietor for personal use should be credited to	Purchase a/c Drawings a/c Expenses a/c Revenue a/c
2	Interest on drawing is debited to	Capital Drawings Sundry Creditors Outstanding expense
3	Income tax paid is a	Business Expense Business Revenue Business Liability Personal Expense
4	Net profit is always	Equal to gross profit more than gross profit Less than gross profit None of these
5	From business point of view, interest on capital is considered as	An income An Expense A Profit A Liability

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