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WorksheetsSY A QUIZ
Total questions: 20
Worksheet time: 9mins
2. If the suspense account does not balance off even after rectification of errors, it
implies that..
There are some one-sided errors only in the books yet to be ascertained
There are no more errors yet to be ascertained
There are some two-sided errors only, that is yet to be ascertained
There may be both two-sided errors and one-sided errors, that are yet to be ascertained
In the context of bookkeeping, what does the term "double-entry system" mean?
In every business transaction- For every debit there must be an equal credit
Recording transactions in a single book
Making entries without any system or organization
Ignoring financial transactions
Amount withdrawn for business use is considered as....
Which of the following items would not fall under the definition of an asset ?
Creditors
Debtors
Cash
Machinery
The person who owes money to the firm is called a
creditor
lender
bank
debtor
Mr. Moonrise started a business for buying and selling of stationery with ₹5,00,000 as an initial investment. Of which he paid ₹1,00,000 for furniture, ₹2,00,000 for buying stationery items. The amount of capital will be
₹2,00,000
₹5,00,000
₹1,00,000
₹3,00,000
An Enterprise to whom an entity owe, an amount for buying goods and services on credit is called
Creditor
Debtor
Lender
Bad debt
Subscription received in advance during the current year is
An income
An assets
A liability
None of these
Income and Expenditure Account records transactions of:
Revenue nature only
Capital nature only
Both Revenue and Capital nature
None of the above
What logo is this?
FoxTrot
World Fire
FireFox
Chase the World
Guess The Name Of Company?
Nestle
General Mills
Gruma
Bimbo bakeries
This is the transaction that is due to be received
Accounts Payable
Accounts Receivable aging
Accounts Receivable
Accounts of natural transaction
A hotel whose revenue and expenditure vary great depending the time and season
Income Statement
Cash Flow
Seasonal Expenditure
Seasonal Hotel
Credit means...?
Accounts payable
Transaction record
Receivable accounts
Aging accounts
Its function is to prepare the balance sheet of the hotel.
Front Office Department
Hotel Security Guard
Purchasing Department
Accounting Department
Honest goal setting usually helps you to __________ your priorities.
confuse
clarify
conceal
complicate
