ACCOUNTS

CASH DISCOUNT IS :

• WHICH IS ALLOWED AT THE TIME OF MAKING PAYMENT

• ALLOWED AT THE TIME OF SALE OF GOODS

• RECEIVED AT THE TIME OF PURCHASE OF GOOOD

• RECEIVED BOTH AT THE TIME OF MAKING PAYMENT AND PURCHASE OF GOODS

WHICH OF THE FOLLOWING IS CAPITAL EXPENDITURE:

• WAGES

• WAGES PAID FOR BUILDING CONSTRUCTION

• REPAIR EXPENSES OF BUILDING

• ADVERTISEMENT EXPENSES

GROSS PROFIT IS :

• COST OF GOODS SOLD + OPENING STOCK

• EXCESS OF SALES OVERCOST OF GOODS SOLD

• SALES FEWER PURCHASES

• NET PROFIT FEWER EXPENSES OF THE PERIOD

INCOME IS MEASURED ON THE BASIS OF:

• MATCHING CONCEPT

• CONSISTENCY

• COST CONCEPT

• NONE OF THE ABOVE

FIND OUT THE MISSING VALUE LIABILITIES IN AN ACCOUNTING EQUATION WITH THE HELP OF GIVEN DATA?

ASSETS=2,01,000

OWNER EQUITY=90,000

• Rs.201,000

• Rs.111,000

• Rs. 290,000

• Rs. 291,000

MR. "A" BORROWED MONEY FROM BANK ; THIS TRANSACTION INVOLVES WHICH OF THE FOLLOWING ACCOUNTS ?

• CASH AND BANK LOAN

• BANK AND DEBTORS

• DRAWING AND CASH

• CASH AND BANK

Who is the Father of Double Entry System?

• Luca Pacioli

• Pineer Peggle

• Jeromee Lee

• Eugeue F. Fama

7. The Liabilities of a business are Rs 30,000; the capital of proprietor is Rs 70,000. the total asset are ?

• 30,000

• 70,000

• 40,000

• none of these

Bank reconciliation statement compares a bank statement with _________?

• Cash payment journal

• Cash receipt journal

• Financial statements

• Cashbook

In cash book, bank charges of ₹5,000 was not recorded. Name the correct cash book adjustment?

• It will be credited in cash book

• It will be debited in cash book

• No adjustment needed in the cash book

• Charges will be added to the cash book balance