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Latest 20 Questions
Contingent assets usually arise from unplanned or other unexpected events: a) True b) False c) Partly True d) None
Contingent asset is not recognized in the financial statements on the basis of _______ accounting concept: a) Prudence b) Materiality c) Substance over form d) Going concern
The Balance on the debit side of bank column in Cash Book indicates a) Total amount withdrawn from the bank b) Total deposited in the bank c) Cash at Bank d) Bank Overdraft
While balancing three column cash book, the discount columns are: a) Totaled but not adjusted b) Totaled and also adjusted c) Totaled but not balanced d) Balanced but not totaled
Postage stamps purchased for Rs. 30 by business. This transaction will be recorded in: a) Purchase Book b) Cash Book c) Petty Cash Book d) Journal
Where two aspects of a transaction are posted in the Cash Book, such an entry is called: a) Double Entry b) Debit Entry c) Credit Entry d) Contra Entry
Rent due for the month of March will appear ________ of the cash book. a) On the receipt side b) On the payment side c) As a Contra Entry d) Nowhere
In three column cash book, when does contra entry occurs? a) Withdrawal of cash from bank b) Payment to creditors c) Withdrawal of cash from bank for personal use d) All of the above
Double entry in Cash Book is completed when: a) Salaries are paid by cheque b) Withdrawal of money from bank for personal use c) Deposited cash into bank d) None of these
In petty cash book, the system followed: a) Accrual System b) Imprest System c) Cash System d) None of these
Cheques received but deposited on the next day are recorded in: a) Cash column of the cash book b) Bank column of the cash book c) Both of these d) none of these
What rate of commission is charged by the bank issuing the credit card: a) 1% to 3% b) 3% to 6% c) 2% to 5% d) 1% to 4%
If the debit and credit aspects of a transaction are recorded in the cash book it is a: a) Contra Entry b) Simple Entry c) Double Entry d) Single Entry
Small payments are recorded in a book called: a) Cash Book b) Small Payments Book c) Purchase Book d) Petty Cash Book
Cash book is a form of: a) Trial balance b) Ledger c) Journal d) All of the above
The balance of Petty Cash is: a) An Expense b) Revenue c) An Asset d) Liability
Briefly define top-down and bottom-up design model ?
What is the basis of Halsteadís complexity measure?
Differentiate validation and verification ?
What is structured design ?



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