11th Principles of Accounting MCQS Chapter 3

Google Ads1
11th Principles of Accounting MCQS
Image Courtesy By Freepik

Respected members,
11th Principles of Accounting MCQS Available Here. In this pages your can get 11th Principles of Accounting MCQS with Answers.
You can read and practice, 11th Principles of Accounting MCQS on Different Topic,
We make Online question bank with the help of experienced teachers and subject specialists.

FG Study / Quiz is also very useful website for online Quiz and Test sessions. Where FG STUDY Team Design and Develop large Database and Content Management System for the quizzes. We provide wide scale online quiz System for various educational and professional examination. If you are interested please visit our site FG Study Quiz

Remember That The FG STUDY Team Always provide unique and useful content for students. If you have any question or problem do not hesitate to contact us, we will be happy to reply, Thanks


Any activity undertaken for the purpose of earning profit is called:
Duties
Dealing
Business
Performance

At the time of drawing a bill the drawer credits:
bill receivable account
Debtors account
Suppliers account
Creditors account

A Journal is generally kept on:
Vertical basis
A columnar basis
A single line basis
A row basis

When is a drawee is declared insolvent which account is to be debited in the books of drawer
None of these
Bad Debts a/c
Solvency a/c
Deficiency a/c

Subsidiary books are called the book of:
Basic entry
Original entry
Secondary entry
Temporary entry

When a bill is discharged the acceptor debits:
Creditors account
Bill receivable account
Cash account
Bill payable account

The concept of conservation will have the effect of:
Under statement of liabilities
Understatement of assets
Overstatement of assets
None of the above

A bill of exchange is a method of payment on
Reserve Basis
Cash Basis
Credit Basis
Accommodation Basis

A bill of exchange is drawn by
Creditor
Endorser
Endorsee
Debtor

The transaction for which non separate book is maintained are recorded in:
Cash book
Bills receivable book
Bills payable book
Journal proper

Continue Reading Go to Next Page

Google Ads