11th Principles of Accounting MCQS
The rules of the debiting the receiving and crediting the giver is applicable to:
Persona account
Real account
Expense account
Nominal account
When ban column of a cash book shows a debit balance it means:
Overdraft as per bank
Unfavourable balance as per cash book
Favourable balance as per pass book
Favourable balance as per cash book
An Entry which is recorded on the both sides of cash book is called
Simple Entry
Compound Entry
Combined Entry
Contra Entry
The excess of gross profit on sale over total operating expenses is called:
None-operating income
Gross profit
Cost of goods sold
Net profit
In accounting all business transactions are recorded which have:
Dual aspect
Single aspect
None of the above
Economic aspect
How many columns are drawn on one side of three column cash book ?
Eight Columns
Six Columns
Seven Columns
Five Columns
The cash book is a
Trial Balance
Ledger Account
Subsidiary Journal and Ledger
Subsidiary Journal
Bank Reconciliation represents
A Ledger
A Journal
both a and c
A Statement
The book in which all cash transactions are primarily recorded is called
Cash Book
Cheque Book
Finance Book
Pass Book
Cash account is concerned with:
Personal account
Real account
Capital account
Nominal account
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