| 1 |
The payments side of the cash book is undercast by Rs. 200, when overdraft as per bank statement i s the starting points: |
- A. Rs. 200 will be deducted
- B. Rs. 200 will be added
- C. Rs. 400 will be added
- D. Rs. 400 will be deducted
|
| 2 |
Net Sales represent |
- A. Sales - return outwards
- B. Sales - return inwards
- C. Sales - return to supplier
- D. both b and c
|
| 3 |
Gross profit represents |
- A. Opening stock + purchases
- B. closing stock + direct expenses - sales
- C. closing stock-purchases-direct expenses + sales
- D. purchases - sales
|
| 4 |
Bad debts recovered should be credited to |
- A. Balance Sheet
- B. Trading a/c
- C. Profit & Loss a/c
- D. None of these
|
| 5 |
The const concept applied only to the assets and not to: |
- A. Expenses
- B. Liabilities
- C. Incomes
- D. None of these
|
| 6 |
The money with which business is started is known as: |
- A. Capital
- B. Creditor
- C. Income
- D. Debtor
|
| 7 |
Assets having some market value |
- A. Fictitious Assets
- B. Real Assets
- C. Unreal Assets
- D. None of these
|
| 8 |
The concession given by the supplier to the buyer on purchases of good is known as: |
- A. Sales discount
- B. Trade discount
- C. Purchase discount
- D. Discount received
|
| 9 |
Goods withdrawn by the proprietor for personal use should be credited to |
- A. Purchase a/c
- B. Drawings a/c
- C. Expenses a/c
- D. Revenue a/c
|
| 10 |
Any mistake in ledger can be easily detected with the help of: |
- A. Journal
- B. Balance sheet
- C. Trial balance
- D. Financial statement
|
