Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	A cash account always shows	Debit Balance Credit Balance Both a and b Nil Balance
2	Accommodation bills are drawn accepted and endorsed	Without any Consideration for some Consideration for Quarter Consideration none of the above
3	When is a drawee is declared insolvent which account is to be debited in the books of drawer	Deficiency a/c Bad Debts a/c Solvency a/c None of these
4	Retiring a bill under rebate means	Payment of Bill Before Due Date Payment of Bill After due date Discounting of a Bill Dishonouring of a Bill
5	Interest on renewal of a bill is the expense of	Drawer Drawee Holder Endorsee

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