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Accounting Quiz 5

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Accounting Quiz 5

1 / 50

A book wherein various accounts are opened is called____________?

2 / 50

Which of the following is an external cause of depreciation?

3 / 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?

4 / 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

5 / 50

Which of the following statements is correct about Depreciation?

6 / 50

Payments received in advance from a customer for a contract can be__________?

7 / 50

Which of the following is not a method of charging depreciation?

8 / 50

Which of these items are taken into consideration for preparation of adjusted Cash Book

9 / 50

When a person purchasing goods on credit he becomes a_________in the books of the seller?

10 / 50

Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book___________?

11 / 50

Revenue is generally recognized as being earned at that point of time when?

12 / 50

Bank reconciliation statement is a part of_________?

13 / 50

Depreciation is calculated on the____________?

14 / 50

Which of the following is not depreciated?

15 / 50

The main objective of providing depreciation is to?

16 / 50

Expenses of the following nature are treated as a Revenue expenses except__________?

17 / 50

Benefits of preparing Bank Reconciliation Statement includes___________?

18 / 50

The Bank Reconciliation Statement is prepared?

19 / 50

____________is also known as Appraisal system of depreciation?

20 / 50

Cost of goods sold excludes___________?

21 / 50

Revenue receipts are shown in___________?

22 / 50

Which of these is not a special purpose journal?

23 / 50

Capital expenses are shown in___________?

24 / 50

The portion of the acquisition cost of the asset yet to be allocated is known as___________?

25 / 50

Debit side of Bank Pass book corresponds to___________?

26 / 50

Which of the following is true with respect to providing depreciation under diminishing balance method?

27 / 50

Which of the following factors are primarily considered to determine the economic life of an asset?

28 / 50

Cash received from debtors would be deemed as___________of funds.

29 / 50

Generally the term fund is used to mean the difference between?

30 / 50

The periodic total of purchase day book is posted to____________?

31 / 50

Bank reconciliation is a statement prepared to reconcile__________?

32 / 50

The entry for creating a Provision for bad debts is_____________?

33 / 50

The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?

34 / 50

The periodic total of sales day book is posted to___________?

35 / 50

Provision is created for____________?

36 / 50

Which of the following statements best describes the purpose of depreciation?

37 / 50

Posting is the process of____________?

38 / 50

Depreciation is a process of____________?

39 / 50

Which of the following is a revenue expenses?

40 / 50

Bad debts recovered account will be transferred to______________?

41 / 50

Tax deducted at source A/c appears in___________?

42 / 50

Investment in own share A/c appears in____________?

43 / 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?

44 / 50

Difference in Bank Balance as per Pass Book and Cash Book may arise on account of_____________?

45 / 50

Which of these types of expenditure would not be treated as a Capital Expenditure?

46 / 50

Which of the following is a capital expenditure?

47 / 50

In which of the following methods, the cost of the asset is spread over in equal proportion during its useful economic life?

48 / 50

Which of these documents is not required for Bank Reconciliation?

49 / 50

Debit balance as per bank pass book mean_____________?

50 / 50

Credit balance as per Cash Book mean____________?

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