WorksheetsSPECTRUM THEORY QUIZ -2
Total questions: 20
Worksheet time: 7mins
To check the arithmetical accuracy of books of accounts, the trader prepares...…...Statement
Trial balance
Cash flow
Balance sheet
Decrease in the value of intangible assets is known as
Depreciation
Amortisation
Appreciation
Give journal entry:
Bought furniture for cash
Furniture a/c….. Dr
To cash
Purchase a/c…..Dr
To cash
Cash a/c….. Dr
To Furniture
Installation charges incurred on a fixed assets are included in its cost
TRUE
FALSE
Decrease in value of a fixed assets due to normal wear and tear is known as
Obsolescence
Spoilage
Depreciation
…........... Is a book containing a chronological record of transactions originally entered under double entry system
Journal
Ledger
Trial balance
HSN stands for………
Harmonized System of Nomenclature
Humanity System Numbers
Home Shopping Network
What is the maximum rate of GST prescribed under GST Act?
40%
15%
18%
Nominal accounts are…
Accounts of assets
Accounts of income and expenses
Accounts of liability
Withdrawal by the owner reduces
Assets and owners equity
Liabilities and capital
Assets and liability
Adjusting entry for closing stock is…
Closing stock a/c.. Dr
To Trading a/c
P&L a/c….Dr
To Closing stock
Closing stock a/c...Dr
To P&L a/c
Copyright is …....Expenditure
Capital expenditure
Revenue expenditure
Revenue receipts
Promotional expenses is an example of …….
Deferred revenue expenditure
Capital expenditure
Revenue expenditure
What is the use of ledger folio column of journal
Record the page number of the ledger account
Record the page number of journal
Record total number ledger accounts
Which of the following is not a cause of depreciation
Reduction in the market value of assets
Obsolescence
Wear and Tear
Short cut key for saving a file in MS Excel….
Crtl + S
Crtl + A
Alt + S
Intersecting point of Row and Column in MS Excel is called……
Cell
Intersect
Worksheet
MS Excel is a ………application
Accounting
Spreadsheet
Numerical
MS Office is developed by
IBM
Apple
Microsoft corporation
In MS Excel, Columns are labelled as
A, B, C
A1, B1, C1
a, b, c
