| 1 |
All the time of endorsement of a bill the drawer credits: |
- A. The drawee account
- B. The endorser's personal account
- C. Bill receivable account
- D. Endorser's account
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| 2 |
An Entry which is recorded on the both sides of cash book is called |
- A. Simple Entry
- B. Compound Entry
- C. Combined Entry
- D. Contra Entry
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| 3 |
In journalizing the page numbers of the ledgers are written in: |
- A. The first column of journal
- B. The second column of journal
- C. The third column of journal
- D. The fourth column of journal
|
| 4 |
The document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called: |
- A. Receipt voucher
- B. Payment voucher
- C. Cash voucher
- D. Cash memo
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| 5 |
The balance of petty cash book is a/an |
- A. Asset
- B. Liability
- C. Expense
- D. Income
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| 6 |
Which column is prepared in single column cash book? |
- A. Bank Column
- B. Cash Column
- C. Discount Column
- D. All of the Above
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| 7 |
Retiring a bill under rebate means: |
- A. Making payment for the bill before the due date
- B. Making payment for the bill after the due date
- C. Dishonouring bill
- D. None of the above
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| 8 |
In accounting all business transactions are recorded which have: |
- A. Dual aspect
- B. Single aspect
- C. None of the above
- D. Economic aspect
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| 9 |
When ban column of a cash book shows a debit balance it means: |
- A. Overdraft as per bank
- B. Unfavourable balance as per cash book
- C. Favourable balance as per cash book
- D. Favourable balance as per pass book
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| 10 |
Pass book is prepared by |
- A. Debtor
- B. Creditor
- C. Banker
- D. Customer
|