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accounts

Question No. Question Answer
Question No. 1 One of the following is not the purpose of accounting To show good profits
Question No. 2 The policy of anticipate no profits and provide for all possible losses arises due to Conservatism Concept
Question No. 3 Accural basis of accouning is based on Time Period Concept
Question No. 4 Which one of the following is correct Net Worth = Assets - Liability
Question No. 5 Journal is the Book of original entry
Question No. 6 Double Entry means Both the aspects of the transaction are recorded
Question No. 7 All the ledger accounts tabulated in summary form is known as Trial Balance
Question No. 8 The comparison of one accounting period with tht in the past is possible only when the _________ concept is followed Consistency Concept
Question No. 9 Which of the following is not a captial expenditure for a business man selling garments None of the above
Question No. 10 On which of the following assets depereciation is not provided Land
Question No. 11 Purchase of plant for cash Keeps the total assets unchanged
Question No. 12 The method used to find out what profit a petty trader has made is The increased net worth method
Question No. 13 One of the following is not a correct statement Credit what comes in
Question No. 14 According to Generally Accepted Accounting Principles Losses should be provided fpr
Question No. 15 which of the following is a revenue expenditure Salary paid
Question No. 16 Payment received from the debtor Result in no change
Question No. 17 Find the total sale if Debtor ( Opening ) = Rs 500 , Debtor ( Closing ) = Rs. 1000 , Receipts from the debtors = Rs. 200 Rs. 700
Question No. 18 Debit note is used to record the details of Goods returned by the firm
Question No. 19 Current Ratio is used to measure Liquidity position of the organisation
Question No. 20 Which of the following is true about stock turnover ratio It helps to know the speed at which stock is sold
Question No. 21 Trade discount is given to Bulk buyers
Question No. 22 Source document are generated Both a and b
Question No. 23 The events that effect any organization are a result of its interaction with its environment , which includes Economic social political and regulatory entities
Question No. 24 GAAP stans for Generally accepted accounting Principles

Free online test


Free online test

Free online test

Here you can find different multiple choice questions of accounts , math , quantitative techniques, mental ability , accounts etc. helpful in Quick Study Competition Test Prepration ( Free online test )
These questions are very helpful (Quick Study Competition Test Prepration ( Free online test ) for different exams pattern like bank po, bank clerical , railway , IAS ,PCS, SSC, Income tax etc. Free online test