Accounting Quiz 5
1 / 50
Bank reconciliation is a statement prepared to reconcile__________?
2 / 50
Cash received from debtors would be deemed as___________of funds.
3 / 50
Which of the following is true with respect to providing depreciation under diminishing balance method?
4 / 50
Revenue receipts are shown in___________?
5 / 50
Which of the following is a capital expenditure?
6 / 50
The Bank Reconciliation Statement is prepared?
7 / 50
Tax deducted at source A/c appears in___________?
8 / 50
The portion of the acquisition cost of the asset yet to be allocated is known as___________?
9 / 50
Revenue is generally recognized as being earned at that point of time when?
10 / 50
Debit balance as per bank pass book mean_____________?
11 / 50
Cost of goods sold excludes___________?
12 / 50
Debit side of Bank Pass book corresponds to___________?
13 / 50
Which of these is not a special purpose journal?
14 / 50
Payments received in advance from a customer for a contract can be__________?
15 / 50
The main objective of providing depreciation is to?
16 / 50
When a person purchasing goods on credit he becomes a_________in the books of the seller?
17 / 50
Bank reconciliation statement is a part of_________?
18 / 50
Which of the following statements is true with regard to written down value method of depreciation? i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year
19 / 50
Which of the following is a revenue expenses?
20 / 50
Bad debts recovered account will be transferred to______________?
21 / 50
The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?
22 / 50
Which of the following statements best describes the purpose of depreciation?
23 / 50
The periodic total of sales day book is posted to___________?
24 / 50
Posting is the process of____________?
25 / 50
A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?
26 / 50
Which of the following statements is correct about Depreciation?
27 / 50
Which of the following is an external cause of depreciation?
28 / 50
____________is also known as Appraisal system of depreciation?
29 / 50
Expenses of the following nature are treated as a Revenue expenses except__________?
30 / 50
A book wherein various accounts are opened is called____________?
31 / 50
Benefits of preparing Bank Reconciliation Statement includes___________?
32 / 50
Which of the following factors are primarily considered to determine the economic life of an asset?
33 / 50
Credit balance as per Cash Book mean____________?
34 / 50
Capital expenses are shown in___________?
35 / 50
In which of the following methods, the cost of the asset is spread over in equal proportion during its useful economic life?
36 / 50
Which of the following is not depreciated?
37 / 50
Provision is created for____________?
38 / 50
Depreciation is a process of____________?
39 / 50
The entry for creating a Provision for bad debts is_____________?
40 / 50
A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car?
41 / 50
Which of these items are taken into consideration for preparation of adjusted Cash Book
42 / 50
Depreciation is calculated on the____________?
43 / 50
Which of these types of expenditure would not be treated as a Capital Expenditure?
44 / 50
Investment in own share A/c appears in____________?
45 / 50
Difference in Bank Balance as per Pass Book and Cash Book may arise on account of_____________?
46 / 50
The periodic total of purchase day book is posted to____________?
47 / 50
Generally the term fund is used to mean the difference between?
48 / 50
Which of the following is not a method of charging depreciation?
49 / 50
Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book___________?
50 / 50
Which of these documents is not required for Bank Reconciliation?
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