(A) Debit balance of analytical Petty Cash Book
(B) Credit balance of Bank Pass book
(C) Debit balance of Bank column of Cash Book
(D) Credit balance of Bank column of Cash Book
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Which of the following is true?
(A) Bank Account is a Personal Account
(B) Stock of stationery Account is a Nominal Account
(C) Returns Inward Account is a Personal Account
(D) Outstanding rent Account is a Nominal Account
Which of the following is NOT a characteristic of Cash Book?
(A) t has two identical sides—left hand side, the debit side and right hand side, the credit side
(B) t verifies the arithmetic accuracy of posting of entries from the Journal to the Ledger
(C) The difference between the total of two sides of cash book shows cash in hand
(D) It always shows debit balance. It can never show credit balance
Bank Overdraft is shown as a?
(A) Current Liability
(B) Contingent Liability
(C) Unsecured Loan
(D) Provision
Which of the following is/are fixed asset(s)?
(A) Closing inventory
(B) Fixed Deposits in a bank
(C) Patents
(D) Prepaid expenses
When a Fixed Asset is obtained as a gift, the account to be credited is?
(A) Goodwill A/c
(B) Capital Reserve A/c
(C) Donor‘s A/c
(D) General Reserve A/c
The amount of Owners‘ equity in a business is not affected by?
(A) The percentage of Total Assets held in cash
(B) Investments made in the business by the owner
(C) The profitability of the business
(D) The amount of dividends paid to Stock holders
If you start with cash book favorable balance in Bank Reconciliation Statement, which item will be added?
(A) Cheque deposited but not credited by the bank
(B) Cheques omitted to be deposited into bank
(C) Any amount directly collected by bank on behalf of customer but not recorded in cash book
(D) Debit side of cash book was overcast