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