Question

6.

Under ______ concept, all the business transactions are recorded from the point of view

of the business unit and not from the point of view of owner, managers, customers,

creditors etc.

a) Going concern b) Money measurement c) Dual aspect d) Business entity

CO1 K1 7. Balance sheet shows the ______ of the business concern.

a) profit or loss b) surplus or deficit c) financial position d) net profit

CO1 K1 8. Receipts and payments a/c is a summary of ______ transactions.

a) capital b) revenue c) cash d) credit

CO3 K4 9.

Bank balance as per cash book is Rs.10,500 the cheque issued for 600 were not

encashed. The pass book balance is ______.

a) 11,100 b) 9,900 c) 10,000 d) 10,700

CO5 K6 10.

Depreciation on the straight line method of Rs.5000 at the rate of 10% p.a. for third year

will be ______.

a) 500 c)1,500 c) 3,500 d) 200​

Answer 1

1) business entity

2) financial position

3) cash

4) 10,700

5) 500