Tag: Accounting Mcqs

(A) Acceptor‘s Account is debited in the books of drawer
(B) Bills Receivable Account is credited in the books of drawer
(C) Bank Account is debited in the books of drawer
(D) Bills Payable Account is debited in the books of drawer

(A) Noting charges are paid by the holder of the bill on the date of default
(B) A bill can be endorsed only thrice
(C) On renewal of bill the old bill is canceled
(D) Both (a) and (c) above

(A) Profitability
(B) Financial position
(C) Both
(D) Cash inflows

(A) Dressing Balance Sheet
(B) Marshalling Balance Sheet
(C) Formatting Balance Sheet
(D) Make up of Balance Sheet

(A) Income from sale of trading goods
(B) Bad debts recovered
(C) Interest on FDs
(D) None

(A) Profit and Loss A/c
(B) Capitalized with work in progress
(C) Trading A/c
(D) Shown in Balance Sheet

(A) In Trading A/c
(B) In Profit and Loss Appropriation A/c
(C) Profit and Loss A/c
(D) Being a non operating item ignored

(A) Profit and Loss A/c
(B) Trading A/c
(C) Deducted from the concerned assets A/c;
(D) Shown on the liability side