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Accountancy 3

Authored by Sunilkumar S

Other

12th Grade

Used 6+ times

Accountancy 3
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The institutions, which deal in activities other than trade are called:

Trading concerns

Non-trading concerns

Manufacturing concerns

None of them

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The record of cash kept by the non-trading concerns is shown by:

Receipt & payment account

Income & loss account

Profit & loss account

Manufacturing account

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An account, prepared to compute the surplus or deficit of a club or society is termed:

Revenue account

Revaluation account

Realization account

Income & expenditure account

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When the assets of a charitable institution exceed its liabilities, the excess balance is shown as:

Accumulated surplus

Deficit

Revenue income

Net profit

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The main objective of non-trading concern is to:

Earn profit

To create monopoly

Welfare of society

None of the above

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is treated as income in non-trading concern:

Entrance fee

Sale of asset

Endowment fund

Telephone charges

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Gift presented to chief guest at annual function by non-trading concern is:

Gift

Reward

Honorarium

All of these

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