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

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

Money value of the reputation of business is known as ____________

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

Expenditure incurred on purchase of fixed asset is ____________

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

Totalling of Journal or Ledger is called as ____________

In cash transaction, goods or services are exchanged for ____________

The work of book-keeping is of ____________ nature.

Capital is ____________ of the business.

The work of accounting depends upon ____________

____________ is the amount invested by the owner of a business.

Revenue expenditure is ____________ in nature.

Amount withdrawn by the owner for his personal expenses is called ____________

Financial statements are a part of ____________

A Person who is unable to pay his debts, is called ____________

According to ____________ concept business shall go on for a long time.

According to ____________ concept, every business transaction has two aspects.

According to ____________ concept revenue is recognised when it is earned.

When cheque is _____________ into bank Cash Book is debited.

Overdraft facility is allowed to _____________ account.

Normally the Bank Reconciliation Statement is prepared at the end of a _____________

Wages paid for installation of machinery is debited to ____________ account.

Depreciation arises because of ____________

The profit on sale of an asset is debited to ____________ A/c.

By the amount of depreciation the value of asset ____________

Under the ____________ system of depreciation, the amount of depreciation does not change from year to year.

Depreciation =( Cost of Asset (-) ………….}/{Estimated life of Asset}

Wages paid for the installation of machinery wrongly debited to wages account is an error of ___________

A list of balances of all the accounts in ledger is called _______________

Drawing account is closed by transferring the balance to the _______________ account.

Outstanding expenses is a _______________ account.

Depreciation is always charged on _______________ assets.

Pre-received income is shown on _______________ side of Balance sheet.

Royalty on production is a _______________ expenses.

All items of indirect income are shown on the credit side of the _______________ Account.

The difference between the capital at the end of the year and capital at the beginning of the year is called _____________

A statement of affairs is a summarised statement of an estimated _____________

Under single Entry system, Profit = Closing Capital less _____________

The capital at the end of the accounting year is ascertained by preparing _____________

When dates of drawings are not given, interest on drawings is charged for _____________ months.

The interest on partner's capital is credited to _____________ Account.

A statement showing financial position of a business is called a _____________

Return outwards are deducted from _____________

Debit balance of Trading Account indicates _____________

Credit balance of Profit and Loss Account indicates _____________

Advertisement expenditure to be written off yet will appear on the _____________ side of Balance Sheet.

Purchases of stationery is a ______________ expenditure.

Usually ______________ is a major source of revenue income for 'Not for Profit' concerns.

Non-cash items are not recorded in ______________

For a library, expenditure on the purchase of books is a ______________ Expenditure.

______________ Account starts with the opening Cash Balance.

54) ______________ Account starts with the opening Cash Balance.

55) Subscriptions received from the members is considered as ______________ receipts.

56) For a public hospital, expenditure on the purchase of medicines is a ______________ Expenditure.

57) Which of the following items will not appear in the Balance Sheet of a club?

58) Excess of Expenditure over Income is termed as ______________

59) If an asset is depreciated, Revaluation( in case of Admission of partner) Account is ______________

60) The proportion in which old partners make a sacrifice is called ______________ Ratio.

61) In case of admission of a partner, the profit or loss on revaluation of assets and liabilities is shared by ______________ partners.

62) When the reserve funds is distributed to old partners, the ______________ Account is debited.

63) When goodwill is written off, partners' capital accounts are ______________

64) If an asset is appreciated, Revaluation Account is ______________

65) A, B and C are partners sharing profits in the ratio of 5 : 3 : 2. If B retires then new ratio will be _____________

66) When goodwill is raised at its full value and it is written off _____________ Account is to be credited.

67) Increase in the value of assets should be _____________ to Profit and Loss Adjustment Account.

68) On retirement of a partner the balance on his Current Account is transferred to his _____________ Account.

69) _____________ Ratio is a ratio which continuing partners are benefited on retirement of a partner

70) Gain ratio is calculated on _____________

71) Share of profit of a deceased partner till the date of death is _____________

72) In the case of death of a partner, a _____________ is opened for revaluation of the assets and liabilities.

73) _____________ means winding up of partnership firm.

74) When a partner takes over a liability, his Capital Account is _____________

75) Dissolution expenses are debited to the _____________ Account.

76) The partner who is unable to pay his liabilities is called an _____________ partner.

77) A bill of exchange is called a _____________ by one who is entitled to receive the amount due on it.

78) The person who draws a bill of exchange is called _____________

79) A bill of exchange is required to be _____________ by drawee.

80) The person to whom the amount of the bill is made payable is called _____________ OR _____________ is a person to whom the amount on a bill is payable.

81) Borrowing money from a bank on the security of a bill of exchange is called _____________

82) If a bill falls due on 15th August, payment on it must be made on _____________

83) _____________ means payment of the bill before due date.

84) Fees charged by the Notary Public for noting facts or reasons of dishonour of bill are called _____________

85) _____________ is done in respect of dishonour of foreign bill of exchange.

86) Nominal value of shares allotted to the public is called ____________ capital.

87) Paid-up value of all shares allotted is called ____________ capital.

88) If the articles are silent regarding interest on Calls-in-Arrears, the minimum rate of interest to be charged is ____________

89) ____________ is deducted from the share capital to know paid-up value of shares.

90) The capital with which a company is registered is called ____________

91) If a share of Rs. 100 is issued at Rs. 90, it is said to be issued ____________

92) Bills receivable is ____________

93) Ideally liquid ratio/quick ratio should be ____________

94) Gross/Net profit ratio expressed in ____________

95) Computer, disk drives, monitors, printers, etc. are included in ____________

96) ____________ is the set of programme that direct the computer to perform the desired task.

97) Liability depends on the happening or not happening a certain event.

98) System in which entry is recorded for cash as well as credit transactions.

99) A science and art of correctly recording in the books of accounts, all those business transactions that result in the transfer of money or money's worth.

100) Commodity purchased or produced for sale.