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