11th Principles of Accounting MCQS
From business point of view, interest on capital is considered as
An income
An Expense
A Liability
A Profit
The balance of the ‘Caha Column’ in cash book is always:
None of the above
Debit balance
Both debit and credit balance
Credit balance
Cash account is a:
Real account
Nominal account
Personal account
Both real and personal account
A bill from the point of view of a creditor is called a:
Bill payable
Bill receivable
Bil acceptable
Bill rejectable
The debts, the recovery of which is uncertain are called
both b and c
unrealized debts
doubtful debts
Unbelievable debts
The money with which business is started is known as:
Creditor
Income
Debtor
Capital
The account of depreciation of building of Rs. 30,000 at 5% p.a. will be
Rs. 25,00
Rs. 20,00
Rs. 5,00
Rs. 15,00
Goods withdrawn by the proprietor for personal use should be credited to
Purchase a/c
Expenses a/c
Drawings a/c
Revenue a/c
Net Profit is transferred to
Trial Balance
Balance Sheet
Capital a/c
Trading Account
The const concept applied only to the assets and not to:
Incomes
Liabilities
Expenses
None of these
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