Question

all are McQ
Features of Accounting principle are-

1 point

(a) Feasibility

(b) Objectivity

(c) Usefulness

(d) All of these

12. The main advantage of Double Entry system is-

1 point

(a) To Save Income Tax

(b) Rare Possibility of Error

(c) Unsystematic System

(d) None of these

13. Debit balance of Real A/c shows-

1 point

(a) Liabilities of Business

(b) Expenses of Business

(c) Assets of Business

(d) Loan on Business

14. Credit Balance of Nominal A/c shows-

1 point

(a) Expenses

(b) Liability

(c) Assets

(d) Income

15. Out of the following Representative personal A/c is-

1 point

(a) Akash's A/c

(b) Bank A/c

(c) Prepaid Insurance A/c

(d) Cash A/c

16. Books of A/c used under Double Entry System are-

1 point

(a) Purchase book

(b) Sales book

(c) Cash book

(d) All of these

17. Types of Accounts are-

1 point

(a) Two

(b) Four

(c) Three

(d) Five

18. If total Assets of business are Rs.10,00,000 and capital is Rs. 9,00,000 then the creditors will be

1 point

(a) Rs. 19,00,000

(b) Rs. 3,00,000

(c) Rs. 2,00,000

(d) Rs. 1,00,000

19. If capital of business is Rs. 15,00,000 and liabilities is Rs. 7,00,000 then the total Assets of business-

1 point

(a) Rs. 15,00,000

(b) Rs. 8,00,000

(c) Rs. 22,00,000

(d) None of these

20. If goods is returned by the customer then traders prepare-

1 point

(a) Debit Note

(b) Invoice

(c) Credit Note

(d) None of these​

Answer 1

Answer:

The answer to these questions are really very simple