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