| 1 |
The recording of transaction chronologically in the book of accounts is called: |
- A. Summarizing
- B. Classifying
- C. Recording
- D. None of above
|
| 2 |
Position statement is similar to a |
- A. Trial balance
- B. Balance sheet
- C. Financial statement
- D. Bank reconciliation statement
|
| 3 |
کسی شے کے مسلسل اور لگاتار استعمال سے مختتم افادہ میں کمی آتی جاتی ہے بشرطیکہ دیگر امور بدستور ہیں اس قانون کو کہتے ہیں |
- A. قانون تقلیل افادہ مختتم
- B. قانون مساوی افادہ مختتم
- C. قانون طلب
- D. قانون تقلیل حاصل
|
| 4 |
Transaction, having short-term effects are known as |
- A. Revenue transaction
- B. Capital transaction
- C. Non-monetary transaction
- D. Paper transaction
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| 5 |
Net Profit is transferred to |
- A. Trading Account
- B. Balance Sheet
- C. Capital a/c
- D. Trial Balance
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| 6 |
Narration is always written: |
- A. Above each entry
- B. Below each entry
- C. Between of each entry
- D. None of these
|
| 7 |
Cash of sales is equal to |
- A. Sales - purchases
- B. Purchases - return + closing stock
- C. Opening stock + Purchases (Net) - Closing stock
- D. Sales + Opening stock - (Purchases + Closing stock)
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| 8 |
Net profit is always |
- A. Equal to gross profit
- B. more than gross profit
- C. Less than gross profit
- D. None of these
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| 9 |
Drawings are deducted from |
- A. Sales
- B. Income
- C. Capital
- D. Expenses
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| 10 |
If the total of the credit side of an account exceeds that of debit side of the same account, it is called |
- A. Credit Balance
- B. Debit Balance
- C. Balancing
- D. Zero Balance
|