Accouting Talent Search Exam

Dealings between two persons.

• Agreement

• Contract

• Transaction

• deal

Business transaction in which cash is not paid or received immediately.

• Cash Transaction

• Credit Transaction

• Fake Transaction

• Healthy Transaction

An allowance is given by the receiver of the cash to the giver of cash at the time of payment.

• Cash Discount

• Credit Discount

• Normal Discount

• Delay Discount

Money value of the reputation of business is known as ____________

• Copyright

• Goodwill

• Patents

• Trademark

Heavy advertising expenditure for launching a new product is called as ____________

• Capital expenditure

• Revenue Expenditure

• Deferred Revenue Expenditure

• None of these

Expenditure incurred on purchase of fixed asset is ____________

• Revenue Expenditure

• Capital Expenditure

• Deferred Revenue Expenditure

• None of these

Concept which provides a line between present and future is known as ____________

• Going Concern Concept

• Cost Concept

• Accrual Concept

• Entity Concept

Totalling of Journal or Ledger is called as ____________

• Posting

• Folio

• Casting

• Journalising

In cash transaction, goods or services are exchanged for ____________

• other goods

• other services

• immediate cash

• grains

The work of book-keeping is of ____________ nature.

• competitive

• primary/basic

• secondary

• none of these