Q.1
Which of the following can be distributed among the shareholders?
Q.2
Shares for which amount is paid by public are called ____ shares
Q.3
Which of the following is non-profit organization?
Q.4
Which of the following account will be credited in the books of XYZ Co. Ltd, if the business purchases a vehicle thriugh cheque?
Q.5
In which of the following condition, a company will have positive working capital?
Q.6
Which of the following would NOT be considered as a component of 'cost' of stock?
Q.7
Which of the following is TRUE about the treatment of insurance premium paid in advance
Q.8
The allocation of the cost of a tangible plant asset to expense in the periods, in which services are received from the asset, is termed as
Q.9
Which of the following item will be shown on debit side of debtors account?
Q.10
In case of debit balance, the words _____ are written on the debit side
Q.11
Bank pass book is also known as
Q.12
Which of the following is an example of business liability?
Q.13
The unfavorable balance of Profit and Loss account should be
Q.14
A minimum quantity of stock always held as precaution against out of stock situation is called
Q.15
Discounting of bill by the drawer is done with
Q.16
A promissory note is drawn by ______ in favor of _____
Q.17
____ principle requires that the same accounting method should be used from one accounting period to the next
Q.18
Which of the following is (are) type(s) of Public Limited Companies?
Q.19
The charter of a company which defines the limitations and powers of the company is called
Q.20
Merchandise on hand at either the beginning or end of the accounting period is called
Q.21
When one or both aspects of a transaction are recorded in the wrong class or category of account, it is called
Q.22
Interest on drawings is ___ for the business
Q.23
Narrations are given at the end of
Q.24
Noting charges are paid at the time of
Q.25
Dismantling and demolition charges is a
Q.26
Which of the following account will be credited, if business bought goods on credit from Mr. Z?
Q.27
A bill of exchange when drawn requires
Q.28
A bill of exchange is called a ____ by one who is liable to pay it on the due date
Q.29
The left side of an account is known as ___ and the right side as ____
Q.30
The cost of a small calculator is treated as an expense and not shown as an asset in a financial statement of a business entity due to
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