Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	The account of depreciation of building of Rs. 30,000 at 5% p.a. will be	Rs. 20,00 Rs. 15,00 Rs. 25,00 Rs. 5,00
2	Income received in advance during the year is	Prepaid Expenses Accrued Income Advance Expenses Advance Income
3	Assets having some market value	Fictitious Assets Real Assets Unreal Assets None of these
4	Goodwill, patent, copyright are classified as	Current Assets Fixed Assets Tangible Assets Wasting Assets
5	Gross profit represents	Opening stock + purchases closing stock + direct expenses - sales closing stock-purchases-direct expenses + sales purchases - sales

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