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Latest 20 Questions
Recovery of bad debts written off previously will be? a) Credited to debtors A/c b) Adjusted against provision for doubtful debts c) Debited to debtors A/c d) Credited to Profit and Loss A/c
A free market economy's driving force is: a)Profit motive b)Welfare of the people c)Rising income and levels of living d)None of the above
Purchase of second- hand computer on credit by a cloth merchant will be recorded in: a) Journal b) Cash Book c) Purchase Book d) None of the above
Proprietor's Account is _________ Account. a) Real b) Nominal c) Personal d) None of these
Goods worth Rs. 10,000 were withdrawn by the proprietor for his personal use. The account to be credited is a) Sales A/c b) Drawings A/c c) Purchases A/c d) Expenses A/c
Rs. 1,500 withdrawn for personal use should be debited to ____________ a) Expense Account b) Purchases Account c) Sales Account d) Drawings Account
Unexpired expense is _________ account. a) Real b) Nominal c) Personal d) Representative Personal
The rule 'Debit all expenses & losses and Credit all incomes & gains' relates to: a) Personal Account b) Real Account c) Nominal Account d) None of these
The rule regarding PERSONAL ACCOUNT IS: a) Debit what comes in, credit what goes out b) Debit all expenses and losses, credit all incomes and gains c) Debit the receiver, credit the giver d) None
General Reserve Account and Dividend Equalisation Fund Account are: a) Personal A/c b) Real A/c c) Nominal A/c d) None
If two or more transactions of the same nature are journalized together it is known as: a) Compound journal entry b) Separate journal entry c) Posting d) None of the above
Outstanding salary is a: a) Real account b) Personal account c) Representative personal account d) Nominal account
Bank overdraft account is a: a) Personal account b) Real account c) Nominal account d) Representative personal account
What is Luxury Tax in Taxation?
What is Lump-sum Taxation in Taxation?
What is Lump-sum Rate in Taxation?
What is Lump-sum Exempt Amount in Taxation?
What is Lump-sum Deductions in Taxation?
What is Lottery Tax in Taxation?
What is Loss Relief in Taxation?



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