| 1 |
Book used to record petty expenses and receipts |
- A. Single Column Cash Book
- B. Petty Cash Book
- C. Double Column Cash Book
- D. Treble Column Cash Book
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| 2 |
Discount deducted from the catalogue or list price is called: |
- A. Trade discount
- B. Cash discount
- C. Catalogue discount
- D. Credit discount
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| 3 |
How many columns are drawn on one side of three column cash book ? |
- A. Five Columns
- B. Six Columns
- C. Seven Columns
- D. Eight Columns
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| 4 |
The excess of gross profit on sale over total operating expenses is called: |
- A. Cost of goods sold
- B. Gross profit
- C. Net profit
- D. None-operating income
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| 5 |
All the direct expenses are charged to: |
- A. Balance sheet
- B. Profit and loss account
- C. Trading account
- D. None of these
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| 6 |
When saleable goods are bought in a business are called: |
- A. Sales
- B. Purchase
- C. Assets
- D. Goods
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| 7 |
Cheques issued to a creditor but not presented for payment are called |
- A. Un Credited Cheques
- B. Uncollected Cheques
- C. Un Presented Cheques
- D. Dishonoured Cheques
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| 8 |
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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| 9 |
When boan statement shown a debit total balance it means: |
- A. Overdraft as per cash book
- B. Unfavourable balance as per cash book
- C. Favourable balance as per cash book
- D. Overdraft as per bank statement
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| 10 |
The favourable balance of bank statement is |
- A. Credit Balance
- B. Debit Balance
- C. Zero Balance
- D. Both b and c
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