(A) Capital Receipt
(B) Revenue Receipt
(C) Revenue Gain
(D) Capital Gain
Tag: Financial Accounting Mcq
Overcasting of purchases journal would affect?
(A) Sales account
(B) Purchase account
(C) Supplier’s account and purchase account
(D) None of these
The type of A/c with a named credit balance is__.
(A) Expenses A/c
(B) Assets A/c
(C) Revenue A/c
(D) Suspense A/c
The process of recording business transaction in a book of original entry is known as__.
(A) Journals
(B) Balance
(C) Posting
(D) None
An Investment in one asset A/c may lead to__.
(A) Increase in liability A/c
(B) Decrease in A/c asset
(C) Each a or b
(D) Both a/b.
The Sales Returns Day Book would include:
(A) Goods bought on credit
(B) Fixed Assets bought that are inappropriate for business
(C) Stock that customers have returned
(D) ods bought on credit that are returned to the original supplier
Liability A/c has__ Balance.
(A) Debit
(B) Credit
(C) No balance
(D) Either (a) or (b)
SBI A/c is a __.
(A) Nominal A/c
(B) Artificial Personal A/c
(C) Representative Personal A/c
(D) None