Cash book records?
(A) Only cash sales
(B) All types of cash receipts and payments
(C) Only revenue receipts
(D) Only capital receipts
Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation?
(A) Added, Reduced
(B) Added, Added
(C) Deducted, Added
(D) Deducted, Deducted
Which of the following is an one sided error?
(A) 500 purchase of old equipment not recorded in the books of A/c at all
(B) 500 being expense on travelling expense credited to travelling expenses
(C) Both
(D) None
Which of the following error is an error of principle
(A) 5,000 received from Sham credited to Ram A/c
(B) 5,000 incurred on installation of new plant debited to travelling expenses A/c
(C) 500 paid for wages debited to salary A/c
(D) 500 being purchase of raw material debited to purchase A/c ` 50
Capital expenses are shown in___________?
(A) Balance Sheet
(B) Profit and Loss A/c
(C) Trading A/c
(D) None of these
The periodic total of purchase day book is posted to____________?
(A) Purchase register
(B) Purchase A/c
(C) Cash purchase A/c
(D) Credit purchase A/c
The periodic total of sales day book is posted to___________?
(A) Sales A/c
(B) Cash sales A/c
(C) Sales return A/c
(D) Credit sales A/c
Which of these is not a special purpose journal?
(A) Cash journal
(B) Purchase journal
(C) Debtors journal
(D) Sales journal
A book wherein various accounts are opened is called____________?
(A) Subsidiary books
(B) Journal
(C) Ledger
(D) Trial Balance
Posting is the process of____________?
(A) Posting the letters in drop box
(B) Posting suitable person to a suitable job
(C) Entering in the ledger the information contained in the ledger
(D) All the three