(A) General Journal
(B) Purchase Journal
(C) Profit and Loss A/c
(D) Suspense A/c
Tag: Financial Accounting Mcq
Which of the following voucher is used to record transactions that do not affect bank & cash?
(A) Journal Voucher
(B) Receipt Voucher
(C) Payment Voucher
(D) Nominal Voucher
Purchase A/c will have__.
(A) No balance at all
(B) Debit balance
(C) Credit balance
(D) Debit or Credit
Interest Account will have__.
(A) Debit balance only
(B) Credit balance only
(C) Debit or Credit balance
(D) No balance at all
Legacy are generally__.
(A) Capitalized
(B) Treated Loss
(C) Revenue Expenses
(D) Deferred Revenue expenses.
Endowment fund receipt is traded as__.
(A) Casual Receipt
(B) Revenue Receipt
(C) Loss
(D) Expenses
When the benefits of revenue expenditure is available for a period of two or three years, the expenditure is known as__.
(A) Revenue Expenditure
(B) Deferred Revenue Expenditure
(C) Capital Expenditure
(D) Depreciation.
Amount received from the proprietors as capital or loan receipt is treated as?
(A) Capital Receipt
(B) Revenue Receipt
(C) Revenue Income
(D) Capital Income