Q.1
Cash book with cash and discount column is mostly referred to as
Q.2
The most common imprest system is the ______ system
Q.3
Discount received is recorded on which of the following side of a cash book?
Q.4
Drawings by owner of business are generally recorded on which of the following side of a cash book?
Q.5
The real accounts are accounts of Assets, Liabilities and
Q.6
If a transaction is completely omitted from the books of accounts, will it effect the agreement of Trial Balance?
Q.7
_______ are cheques that are issued by the business but not yet presented to bank for payment
Q.8
Trial Balance is commonly prepared
Q.9
Which of the following will affect the agreement of a trial balance?
Q.10
Revenue and expense accounts are referred to as
Q.11
Office equipment's account is classified as
Q.12
An entry which is made on both sides of a cash book is called
Q.13
A cash book with cash, bank and discount column is commonly referrred to as
Q.14
A cash book that is used to record the small payments of cash is generally referred to as
Q.15
Purchase of office equipment for cash will be recorded on which side of a cash book?
Q.16
The normal balance of capital account is
Q.17
The normal balance of asset account is
Q.18
Specialized journals are more adequate for which type of businesses?
Q.19
Transferring entries from journal to ledger account is commonly known as
Q.20
_______ is the common base for preparing a trial balance
Q.21
Which of the following is true about a trial balance?
Q.22
If debit balances = credit balances, trial balance only shows or checks the _________ and it does not indicate that no errors were made during recording and posting.
Q.23
Which of the following account with normal balance is shown at the debit side of a trial balance?
Q.24
Which of the following are closed at the end of an accounting period?
Q.25
Which of the following is the closing balance of a ledger account?
Q.26
Cash book records
Q.27
Postdated cheques are considered as
Q.28
The normal balance of liability account is
Q.29
Which of the following statements is incorrect regarding capital account?
Q.30
An 'account' records the ______ in the balance of an item
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