Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	An expenditure, which is incurred to increase to profit earning capacity of a business concern, is called	Deferred expenditure Current expenditure Capital expenditure Recurring expenditure
2	An expenditure, which is non-recurring and irregular is called	Capital expenditure Revenue expenditure Short-term expenditure Current expenditure
3	Transaction, having short-term effects are known as	Revenue transaction Capital transaction Non-monetary transaction Paper transaction
4	The transactions, the effect of which is not exhausted with in the current accounting year are called	Revenue transaction Capital transaction Current transaction Monetary transaction
5	It is the price of goods sold or services provided by a business to its customers	Asset Cost Capital Revenue

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