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.Management Sciences
Category: Accounting Mcqs
Which of the following is a representative Personal A/c?
A. Outstanding Salary A/c
B. Rent A/c
C. SBI A/c
D. Bad debts A/c
A Bill of Exchange is drawn on 1st April, 2018 payable after 3 months. The due date of the bill is?
A. 30th June,2018
B. 1st July,2018
C. 4th July,2018
D. 4th August,2018
(more…)
Which of the following is true?
A. Error of casting affects personal accounts
B. Omission of a transaction from a subsidiary record affects only one account
C. Error of carry forward affects two accounts
D. Error of principle involves an incorrect allocation of expenditure or receipt between capital and revenue
The excess of current assets over current liabilities is called:
A. Working Capital
B. Circulating capital
C. Fixed capital
D. Trading capital
Another name of journal is_____________?
A. Specialized journal
B. Day book
C. Cash book
D. Record book
Which of the following is the practical implementation of the accounting equation?
A. Cash flow statement
B. Income statement
C. Statement of changes in equity
D. Statement of financial position
Capital expenses are shown in___________?
A. Balance Sheet
B. Profit and Loss A/c
C. Trading A/c
D. None of these
Transferring entries from journal to ledger account is commonly known as____________?
A. Recording
B. Transferring
C. Posting
D. Entry making
Standing orders are ________
A. Credited in the cash book
B. Debited in the cash book
C. Entered in the bank statement
D. Entered in the petty cash balance
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