| 1 |
The accounts of expenses, incomes, losses and gains |
- A. real accounts
- B. valuation accounts
- C. nominal accounts
- D. personal accounts
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| 2 |
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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| 3 |
Cash paid to Naeem will affect |
- A. cash & capital
- B. cash & creditor
- C. cash and debtors
- D. cash & goods
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| 4 |
The system of recording transaction based on dual concept is called |
- A. Double account system
- B. Double entry system
- C. Single entry system
- D. Management system
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| 5 |
A basis of business languages |
- A. accounting
- B. bookkeeping
- C. transaction
- D. cost accounting
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| 6 |
The errors in which amount have occurred on the opposite sides of two or more accounts and have concealed themselves in the net result, are: |
- A. Error of principle
- B. Errors of omission
- C. Errors of commission
- D. Compensating error
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| 7 |
Purchased goods on credit and for cash will affect |
- A. cash & goods
- B. cash & creditors
- C. cash creditors & owner's equity
- D. cash goods and creditors
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| 8 |
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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| 9 |
Carriage account is a/an |
- A. asset account
- B. revenue account
- C. expenditure A/c
- D. withdrawal account
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| 10 |
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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