| 1 |
Left hand side of an account is called |
- A. Debit Side
- B. Credit Side
- C. Both a & b
- D. None of these
|
| 2 |
Some expenses are incurred at the time of the sate of an asset. The Amount will be debited to: |
- A. Assets account
- B. Expenses account
- C. Cash account
- D. Purchases account
|
| 3 |
The person to whom a bill is addressed is the: |
- A. Debtor
- B. Creditor
- C. Holder
- D. Agent
|
| 4 |
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
|
| 5 |
When is a drawee is declared insolvent which account is to be debited in the books of drawer |
- A. Deficiency a/c
- B. Bad Debts a/c
- C. Solvency a/c
- D. None of these
|
| 6 |
One way of avoiding errors in the permanent accounting records is to use a form which is called |
- A. Bank statement
- B. Trail balance
- C. Balance sheet
- D. Work sheet
|
| 7 |
When cheque received, and deposited into bank, bank account must be |
- A. Credited
- B. Debited
- C. Both debited & credited
- D. None of these
|
| 8 |
All cash purchases and cash sales are recorded in: |
- A. Sales book
- B. Purchases book
- C. Both a & b
- D. Cash book
|
| 9 |
Book-keeping is mainly concerned with: |
- A. Recording of business transactions
- B. Recording classifying and summarizing the recorded data
- C. Interpreting the recorded data
- D. None of the above
|
| 10 |
Ahmad's account is an example of |
- A. real account
- B. personal A/c
- C. nominal account
- D. none of these
|
