| 1 |
Double entry means |
- A. entry in two sets of books
- B. entry at two dates
- C. entry for two aspects of a transaction
- D. recording twice in journal
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| 2 |
A basis of business languages |
- A. accounting
- B. bookkeeping
- C. transaction
- D. cost accounting
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| 3 |
The act result of the business activities is shown by: |
- A. Profit and loss account
- B. Profit and loss appropriation account
- C. Trading account
- D. Balance sheet
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| 4 |
Disagreement in balances may arise owing to mistake or mistakes in the: |
- A. Cash book only
- B. Bank statement
- C. Cash book or bank statement
- D. Bank column of the cash book only
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| 5 |
Journal shows all necessary information regarding. |
- A. The document
- B. A transaction
- C. The accounting
- D. Meeting
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| 6 |
Goods returned by customers are |
- A. purchases
- B. purchases returns
- C. sales returns
- D. sales
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| 7 |
Carriage account is a/an |
- A. asset account
- B. revenue account
- C. expenditure A/c
- D. withdrawal account
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| 8 |
Ahmad's account is an example of |
- A. real account
- B. personal A/c
- C. nominal account
- D. none of these
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| 9 |
Error due to wrong allocation as expenditure between capital and revenue is regarded as: |
- A. Error of omission
- B. Error of principle
- C. Compensating errors
- D. Error of Commission
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| 10 |
Accounting records of a business enterprise are required by |
- A. management of the business
- B. outsiders
- C. all of the above
- D. none of the above
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