Question # 1

Compound entry affected at least

Choose an answer

Two account

One account

Three account

Four account

Accounting principle are generally based on

Choose an answer

Theory

Subjectively

Practicability

None of these

A bill of exchange is drawn by a

Choose an answer

Debtor

Holder

Creditor

None of these

Prepaid expenses are

Choose an answer

Expense

Liability

Asset

None of these

Nominal accounts are related to:

Choose an answer

Assets

Creditors

Liabilities

Expenses + Income

Assets which come into existence upon the happening of a certain event are called

Choose an answer

Fictitious assets

Floating assets

Contingent assets

Dependent assets

Any physical that has money value is

Choose an answer

Transaction

Asset

Intangible asset

Goodwill

Cash purchases are recorded in large organizations in

Choose an answer

Purchase day book

General journal

Purchase journal

Cash book

For payment of bill of exchange grace days are

Choose an answer

2 days

3 days

5 days

4 days

Important types of ledger are

Choose an answer

General ledger

Proprietor ledger

Creditors ledger

General ledger & creditor ledger bot

Which of these accounts is increased by credit entries:

Choose an answer

Machinery A/c

Rent A/c

Sales A/c

Purchase A/c

More Classes

Other Links

NAT I Commerce Accounting MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer