| 1 |
Unfavourable balance means |
- A. Credit Balance in the Pass Book
- B. Credit Balance in the Cash Book
- C. Debit Balance in Bank Statement
- D. Both b and c
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| 2 |
Petty cash book is a branch of |
- A. Pass Book
- B. Cash Book
- C. Journal
- D. Ledger
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| 3 |
The book in which all cash transactions are primarily recorded is called |
- A. Cheque Book
- B. Pass Book
- C. Cash Book
- D. Finance Book
|
| 4 |
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
|
| 5 |
The balance of petty cash book is a/an |
- A. Asset
- B. Liability
- C. Expense
- D. Income
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| 6 |
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
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| 7 |
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
|
| 8 |
Contra Refers to |
- A. Same Side
- B. Parallel Side
- C. Opposite Side
- D. None of these
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| 9 |
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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| 10 |
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
|