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SPECTRUM THEORY QUIZ -1

Total questions: 20

Worksheet time: 8mins

Name
Class
Date
1.

DEBIT THE RECEIVER, CREDIT THE GIVER IS THE RULE OF __________ 

a)

REAL ACCOUNT

b)

NOMINAL ACCOUNT

c)

PERSONAL ACCOUNT

2.

ACCOUNTING EQUATION

a)

ASSETS= LIABILITIES +CAPITAL

b)

CAPITAL= ASSETS+LIABILITIES

c)

ASSETS=EQUITY-CURRENT LIABILITIES

3.

WHEN GST IMPLIMENTED IN INDIA

a)

1ST JULY 2017

b)

1ST APRIL 2017

c)

1ST AUGUST 2017

4.

THE AMOUNT INVESTED BY THE PROPRIETOR IS CALLED________________

a)

CASH

b)

CAPITAL

c)

DRAWINGS

5.

PRELIMINARY EXPENSES IS A ___________

a)

FICTITIOUS ASSET

b)

INTANGIBLE ASSET

c)

CURRENT ASSET

6.

EXTERNAL USERS OF ACCOUNTING INFORMATIONS INCLUDE______________

a)

SHARE HOLDERS

b)

MANAGEMENT

c)

CUSTOMERS

7.

THE PERSON WHO OWES MONEY TO THE FIRM IS KNOWN AS__________________

a)

DEBTOR

b)

CREDITOR

c)

INVESTOR

8.

QUALITY OF THE MANAGER IS NOT DIRECTLY DISCLOSED IN THE BALANCESHEET. IN WHICH PRINCIPLE THE STATEMENT IS BASED?

a)

GOING CONCERN

b)

MONEY MEASUREMENT

c)

REVENUE REALISATION

9.

KUMAR'S DRAWINGS IS CATEGORISED UNDER__________________

a)

REAL ACCOUNT

b)

PERSONAL ACCOUNT

c)

NOMINAL ACCOUNT

10.

THE EXCESS OF INCOME AND GAIN OVER EXPENSES AND LOSSES REPRESENTS _________

a)

NET PROFIT

b)

NET LOSS

c)

GROSS PROFIT

11.

TO CHECK THE ARITHMATICAL ACCURACY OF BOOKS OF ACCOUNTS, THE TRADER PREPARE________

a)

TRIAL BALANCE

b)

PROFIT & LOSS A/C

c)

TRADING A/C

12.

GOODWILL COMES UNDER

a)

TANGIBLE ASSETS

b)

INTANGIBLE ASSETS

c)

CURRENT ASSETS

13.

PURCHASE OF FURNITURE IS DEBITED TO PURCHASE A/C

a)

TRUE

b)

FALSE

14.

THE PROCESS OF RECORDING TRANSACTIONS IN CHRONOLOGICAL ORDER IS CALLED JOURNALISING

a)

TRUE

b)

FALSE

15.

THE BUSINESS ENTITY CONCEPT IMPLIES THAT THE BUSINESS UNIT IS SEPARATE FROM THE PERSON WHO SUPPLY THE CAPITAL

a)

TRUE

b)

FALSE

16.

How data are organized in spreadsheet?

a)

Lines and spaces

b)

Layers and planes

c)

Rows and columns

d)

Height and width

17.

A function inside another function is called a ......... function

a)

Nested

b)

Round

c)

Text

d)

Sum

18.

Which of the following methods can not be used to edit the content of the cell?

a)

Pressing Alt key

b)

Clicking the formula bar

c)

Pressing F2

d)

Double clicking the cell

19.

The cell reference for a range of cells that starts in cell B1 and goes over to column G and down to row 10 is ............

a)

G1-G10

b)

B1-G10

c)

B1:G10

d)

G1:G10

20.

Excel is a .............................

a)

Graphic program

b)

Spreadsheet

c)

Word processor

d)

None of these