Accounting Basics Quiz

Accounting Basics Quiz

Professional Development

44 Qs

quiz-placeholder

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Accounting Basics Quiz

Accounting Basics Quiz

Assessment

Quiz

Education

Professional Development

Practice Problem

Hard

Created by

Satish Bhadani

Used 1+ times

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44 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bank Reconciliation Statement is prepared by _________.

student

businessman

bank

none of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Amount which is not recoverable from customer is known as ______________.

Bad Debts

Debts

Debtors

Doubtful debts

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit purchase of Machinery is recorded in the .......

Purchase Book

Cash Book

Journal Proper

Returns Outward Book

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A commodity in which a trader deals is known as _______________.

Goods

Income

Property

Expenditure

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goodwill is . . . . . . . . . . . . . . asset.

Tangible

Current

an intangible

None of these

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Surplus of income over expenses is ______________.

Profit

Deficit

Loss

Financial Statements

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purchase of animals for cash should be debited to ……

Live stock A/c

Goods A/c

Cash A/c

Bank A/c

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