| 1 |
Nominal account are related to: |
- A. Assets and liabilities
- B. Expenses, losses and incomes
- C. Customers, creditors etc
- D. Capital account
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| 2 |
A Journal is generally kept on: |
- A. A columnar basis
- B. A row basis
- C. A single line basis
- D. Vertical basis
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| 3 |
A bank reconciliation statement is prepared by: |
- A. banker
- B. Accountant of the business
- C. Statutory auditors
- D. Rigistar
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| 4 |
Accommodation bills are drawn accepted and endorsed |
- A. Without any Consideration
- B. for some Consideration
- C. for Quarter Consideration
- D. none of the above
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| 5 |
Bank for collection is a |
- A. Permanent Account
- B. Fixed Account
- C. Current Account
- D. Temporary Account
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| 6 |
A bill of exchange is drawn by |
- A. Debtor
- B. Creditor
- C. Endorser
- D. Endorsee
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| 7 |
How many parties are involved in case of Discounting of a bill ? |
- A. Two
- B. Three
- C. Four
- D. None of these
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| 8 |
Which cash is paid or received in an exchange the transaction is called: |
- A. Sale transaction
- B. Cash transaction
- C. Credit transaction
- D. None of the above
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| 9 |
A many buy Rs. 40,000 worth good and sells them for Rs. 50,000. His gross profit is: |
- A. Rs.10,000
- B. Rs.20,000
- C. Rs,30,000
- D. Rs. 40,000
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| 10 |
Subsidiary books are called the book of: |
- A. Original entry
- B. Secondary entry
- C. Temporary entry
- D. Basic entry
|