| 1 |
Book-keeping is mainly concerned with: |
- A. Recording of business transactions
- B. Recording classifying and summarizing the recorded data
- C. Interpreting the recorded data
- D. None of the above
|
| 2 |
Bill receivable account is a: |
- A. Nominal account
- B. Personal account
- C. Real account
- D. Expenses account
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| 3 |
The statement which contains the explanation of different in cash book and bank statement is known as: |
- A. Bank statement
- B. Cash statement
- C. Balance statement
- D. Bank reconciliation statement
|
| 4 |
A schedule of balances of all accounts is called |
- A. Journal
- B. Ledger
- C. Balance Sheet
- D. Trial Balance
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| 5 |
Bank account is a: |
- A. Personal account
- B. Real account
- C. Nominal account
- D. None of these
|
| 6 |
Trading account is the account which is prepared to determine the: |
- A. Only gross profit of the business
- B. Only gross loss of the business
- C. Gross pro0fit or the gross loss of the business
- D. None of the above
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| 7 |
A transaction is recorded on the same days as its takes place, so journal is also called: |
- A. A day book
- B. A history book
- C. An entry book
- D. Ledger book
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| 8 |
In double entry system of bookkeeping every business transaction affects: |
- A. Debit or credit side of the same account
- B. Two accounts
- C. The same side of the same account
- D. None of the above
|
| 9 |
A table lost by fire should be debited to |
- A. Table a/c
- B. Furniture a/c
- C. Loss by Fire a/c
- D. Purchases a/c
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| 10 |
The book use to record all credit purchases is called: |
- A. Purchases book
- B. Purchase return book
- C. Cash book
- D. Creditor book
|