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WorksheetsWhite Belt Tally & Domain
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
Customers/Clients for a business can be classified under which Accounting Group?
a)
Sundry Debtors
b)
Capital
c)
Purchases
d)
Indirect Expenses
2.
Furniture bought by a hardware dealer should be grouped under ____________
a)
Fixed Assets
b)
Current Liabilities
c)
Stock in hand (Closing stock)
d)
Purchases
3.
Which report will help the user to view all the transactions recorded for a day. Further, he may also choose to view all the transactions for a specific period via this report, which report is it?
a)
Day Book
b)
Trading A/c
c)
Balance Sheet
d)
Profit and Loss A/c
4.
You will use ____________ voucher to record a transaction for depositing cash into your Bank account.
a)
Contra
b)
Purchase
c)
Material In
d)
Physical Stock
5.
A transaction of transferring the goods from one godown to another godown, will be recorded in _________________ voucher type.
a)
Stock Journal
b)
Delivery Note
c)
Sales
d)
Journal
6.
Which functionality will help you do a month on month comparative analysis of your expenses and incomes?
a)
Auto Column
b)
Show Profits
c)
Alter column
d)
Sorting method
7.
Gross profit is the profit a company makes after deducting the costs associated with making and selling its products. Gross profit can be viewed in ___________
a)
Trading A/c
b)
Profit and Loss A/c
c)
Trial Balance
d)
Balance Sheet
8.
Which of the following is an asset?
a)
Goodwill
b)
Loan taken
c)
Capital
d)
Income
9.
Rajesh purchased goods from Anup and agreed to pay for the same two weeks later. In the books of Rajesh, Anup will be considered a _______________
a)
Creditor
b)
Debtor
c)
Proprietor
d)
Employee
10.
Inventory can be valued based on many costing methods. Which one of the following is not a costing method for Inventory valuation?
a)
GIGO
b)
FIFO
c)
LIFO
d)
Avg Cost
11.
Electricity expenses paid by cash. In this transaction what is reflected in expenses side of the Profit and loss a/c
a)
Electricity
b)
Cash
c)
Income
d)
Electricity Board A/c
12.
Indirect expenses are costs incurred in the daily operations of the business and not related to the products the company sells. Indirect expenses are reflected in ______________
a)
Profit and Loss A/c
b)
Trading A/c
c)
Balance Sheet
d)
Trial Balance
13.
Which of the following is a liability ?
a)
Share Capital
b)
Closing Stock
c)
Investment
d)
Cash balance
14.
Owner and Business are the same for accounting purposes
a)
false
b)
true
15.
Assets is always equal to liabilities at any given point of time
a)
true
b)
false
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