
XI 23 -24 ACC C1
Quiz
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Other
•
12th Grade
•
Practice Problem
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Medium
ANOOP GCM
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15 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following can be recorderd in the books of Accounts?
Appointment of a Manager
Purchase of goods
Inspecting the books of accounts
Cleaning of the building and premises
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The excess of revenues of a period over its related expenses during an accounting year is called as:
Incomes
Capital
Gain
Profit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Spending money or incurring a liability for some benefit, service or property received is called as:
Expenses
Expenditures
Loss
Gain
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Costs incurred by a business in the process of earning revenue are known as ......
Expenditure
Expenses
Income
Profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Offering deduction of agreed percentage of list price at the time selling goods is called as ?
Discount
Voucher
Goods
Stock
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Amount invested by the owner in the firm is known as ....................
Assets
Liabilities
Capital
Revenue
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Obligations or debts that an enterprise has to pay at some time in the future is called ?
Liabilities
Stock
Drawings
Expenses
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