Accounting

1. 1. WHO IS A FATHER OF ACCOUNTING?

• MARSHALL

• ADAMSMITH

• ROBBINS

• LUCA DE PACIOLI

2. 2. Which of the following is current liability?

• Account Receivable

• Bills Receivable

• Account Payable

• Inventory

3. 3. The double entry system of accounting is .......

• liability + capital=Assets

• Assets-liability=capital

• Assets =Liability-capital

• Capital + Assets = Liability

4. 4. Which financial statement provides a summary of the company's operations over a period of time?

• Balance sheet

• Income statement

• Cash flow statement

• Statement of retained earning

5. 5. P & L account prepared on the basis of ....................

• Cash basis

• Real account

• Nominal account

• Personal account

6. 6. The full form of NFRS is ?

• Nepal Financial Record Summary

• Nepal Financial Record Statement

• Nepal Financial Reporting Standard

• Non- Financial Reporting Standard

7. 7. Balance sheet is a summary report of .........

• All assets

• All Liabilities

• Personal & Real A/c

• Personal, Real & Nominal A/c

8. 8. AGF. No Journal Voucher is .....

• 203

• 210

• 209

• 208

9. 9. How many members are private company?

• 1 - 101

• 7 - 51

• 51

• 100

10. 10. The first step of final account is ....?

• Balance sheet

• Profit and loss account

• Trading Account

• Trial balance