Accountancy 2

Tally is an example of

• In-built accounting software

• Tailor-made accounting software

• Customized accounting software

• Ready-made accounting software

Under the written down value method of depreciation, the amount of depreciation is

• Decreasing every year

• Increasing every year

• Uniform in all the years I have

• None of the above

Find out the odd one out

• Patent

• Goodwill

• Copyright

• Machinery

An Example of Output device:

• Scanner

• Mouse

• Keyboard

• Printer

Goodwill is classified as

• A Tangible asset

• A current asset

• An Intangible asset

• A Liquid asset

A bank reconciliation statement is prepared with the help of

• Bank statement and bank column of the cash book

• Bank statement

• Petty cash book

• Cash book

Accounting Equation Signifies:

• Capital of a business is equal to liabilities

• Capital of a business is equal to Assets

• Assets of a business are equal to the total of capital and liabilities

• Liabilities of a business are equal to assets.

Cash book is a :

• Journal proper

• Subsidiary book

• Both a subsidiary and a principal book

• Principal book

Depreciation is to be calculated from the date when:

• Asset is received at business premises

• Asset is put to use

• invoice of assets is received.

• Purchase order of asset is made

In India, Accounting Standards are issued by:

• Supreme court of India

• Reserve Bank of India

• The Institute of Chartered Accounts of India

• The Cost and Management Accountants of India