Practice Test

Q1) The rent paid to the landlord is credited to Show Answer

Q2) Sunset Tours has a Rs.3,500 account receivable from Rotary. On January 20 , the Rotary makes a partial payment of Rs.2100 to Sunset Tours >The journal entry made on January 20 by Sunset Tours to record this transactions includes Show Answer

Q3) Which financial statement represents the accounting equations , assets=Liabilities + Owner's equity Show Answer

Q4) Which account is the odd one out Show Answer

Q5) The debts written off as bad, if recovered subsequently are Show Answer

Q6) Bill payable account Show Answer

Q7) Rent account Show Answer

Q8) Proprietor's account Show Answer

Q9) Patents account Show Answer

Q10) Salaries Show Answer

Q11) Equipment Show Answer

Q12) Account payable Show Answer

Q13) Membership fees earned Show Answer

Q14) Stock Show Answer

Q15) Accounts receivable Show Answer

Q16) Building Show Answer

Q17) Profits Show Answer

Q18) In Double Entry System of Book-keeping every business transactions affects Show Answer

Q19) A Sale of goods to ram for cash should be debited to Show Answer

Q20) A withdrawal of cash from business by the proprietor should be credited to : Show Answer

Q21) The process of transferring the debit and credit items from a journal to their respective accounts in the ledger is termed as Show Answer

Q22) The techniques of finding the net balance of an account after considering the total of both debits and credits appearing in the account is known as Show Answer

Q23) Journal and Ledgers records transactions in Show Answer

Q24) Ledger book is popularly known as Show Answer

Q25) At the end of the accounting year all the nominal accounts of the ledger book are Show Answer

Q26) A trial balance will not balance if Show Answer

Q27) Rs.1,500 received from sub-tenant for rent and entered correctly in the cash book is posted to the debit of rent account. In the trail balance Show Answer

Q28) After the preparation of ledgers , the next step is preparation of Show Answer

Q29) Debit means Show Answer

Q30) Credit means Show Answer

Q31) Which of the following is correct ? Show Answer

Q32) Journal is a book of Show Answer

Q33) ledger is a book of Show Answer

Q34) the process of recording a transaction in the journal is called Show Answer

Q35) L.F. (i.e. Ledger Folio Column) in the journal is filled at the time of Show Answer

Q36) the process of transferring the transaction relating to change in a particular item at one place in the form of an account is called Show Answer

Q37) the words 'To Balance b/f, or 'by Balance b/f ' are recorded in the 'Particular Column ' at the time of posting of Show Answer

Q38) the words 'To Balance b/f, or 'by Balance b/f ' are recorded in the 'Particular Column ' at the time of posting of Show Answer

Q39) while balancing an account in case of a debit balance , the words by balance c/d are recorded in the particulars column of an account Show Answer

Q40) The balance of an account is always known by the side which is Show Answer

Q41) while balancing an account the balance of an account is recorded on the side which is Show Answer

Q42) normally the following account are balanced Show Answer

Q43) the following account has a credit balance Show Answer

Q44) the following account are never balanced Show Answer

Q45) which of the following is cash transaction Show Answer

Q46) which of the following is credit transaction Show Answer

Q47) purchase of furniture is Show Answer

Q48) salary account Show Answer

Q49) prepaid salary account Show Answer

Q50) outstanding salary account Show Answer

Q51) Interest received account Show Answer

Q52) Accrued Interest account Show Answer

Q53) interest receivable account Show Answer

Q54) Unaccrued Interest account Show Answer

Q55) interest received in Advance account Show Answer

Q56) Capital account Show Answer

Q57) Drawing account Show Answer

Q58) Bill receivable account Show Answer

Q59) Proprietor's account Show Answer

Q60) personal income tax account Show Answer

Q61) Sales Tax payable account Show Answer

Q62) ICICI bank account Show Answer

Q63) Bank deposit account Show Answer

Q64) Debtor's account Show Answer

Q65) Creditor's account Show Answer

Q66) advance to an employee account Show Answer

Q67) Advance to a supplier account Show Answer

Q68) Advance from a customer account Show Answer

Q69) R's account is Show Answer

Q70) M/S R & sons account Show Answer

Q71) R's capital account Show Answer

Q72) R's drawing account Show Answer

Q73) prepaid salary account Show Answer

Q74) advance salary to S account Show Answer

Q75) Salary payable to S account Show Answer

Q76) Interest receivable from M , (a borrower) account Show Answer

Q77) Interest received in advance from M , (a borrower) account Show Answer

Q78) Goodwill account is Show Answer

Q79) trade marks account Show Answer

Q80) copyright account Show Answer

Q81) technical know how account Show Answer

Q82) Investment in shares of ICICI Bank account Show Answer

Q83) Purchase account Show Answer

Q84) Purchase Return Account Show Answer

Q85) Sales account Show Answer

Q86) Sales Return Account Show Answer

Q87) adjusted purchase account Show Answer

Q88) discount allowed account Show Answer

Q89) discount received account Show Answer

Q90) bad debts account Show Answer

Q91) Bad Debts recovered account Show Answer

Q92) provision for doubtful debts account Show Answer

Q93) provision for discount on debtor account Show Answer

Q94) provision for depreciation account Show Answer

Q95) Donation & Charity account Show Answer

Q96) Reserve for discount on creditors Show Answer

Q97) Free sample account Show Answer

Q98) Goods destroyed by fire account Show Answer

Q99) goods misappropriated by an employee account is Show Answer

Q100) cash embezzlement account Show Answer

Q101) account receivable account Show Answer

Q102) cash account Show Answer

Q103) Loan to R account Show Answer

Q104) loan to M account Show Answer

Q105) bank interest account Show Answer

Q106) salary account Show Answer

Q107) outstanding salary account Show Answer

Q108) Interest received account Show Answer

Q109) Accrued Interest account Show Answer

Q110) Interest receivable account Show Answer

Q111) Accrued Interest account Show Answer

Q112) Interest received in Advance account Show Answer

Q113) Capital account Show Answer

Q114) Drawing account Show Answer

Q115) Bill payable account Show Answer

Q116) Bill receivable account Show Answer

Q117) Proprietor's account Show Answer

Q118) Sales Tax payable account Show Answer

Q119) ICICI bank account Show Answer

Q120) Bank deposit account Show Answer

Q121) Debtor's account Show Answer

Q122) Creditor's account Show Answer

Q123) advance to an employee account Show Answer

Q124) Advance to a supplier account Show Answer

Q125) Advance from a customer account Show Answer

Q126) R's account is Show Answer

Q127) Ms/ R & sons account (a customer) Show Answer

Q128) Ms/ R & sons Ltd's account (a customer) Show Answer

Q129) R's capital account Show Answer

Q130) R's drawing account Show Answer

Q131) Prepaid salary account is _________ Show Answer

Q132) Advance salary to S account Show Answer

Q133) Salary payable to S account Show Answer

Q134) Interest receivable from M , a borrower account Show Answer

Q135) Interest received in advance from M , a borrower account Show Answer

Q136) Goodwill account is Show Answer

Q137) Patents account Show Answer

Q138) trade marks account Show Answer

Q139) copyright account Show Answer

Q140) Technical know how account Show Answer

Q141) Investment in shares of ICICI Bank account Show Answer

Q142) purchase account Show Answer

Q143) purchase Return account Show Answer

Q144) sales account Show Answer

Q145) Sales return account Show Answer

Q146) Discount allowed account Show Answer

Q147) Discount received account Show Answer

Q148) Bad debts account Show Answer

Q149) Bad debts recovered account Show Answer

Q150) Provision for doubtful debts account Show Answer

Q151) provision for discount on debtor account Show Answer

Q152) donation & charity account Show Answer

Q153) reserve for discount on creditors Show Answer

Q154) free sample account Show Answer

Q155) Goods destroyed by fire account Show Answer

Q156) Goods misappropriated by an employee account is Show Answer

Q157) Account receivable account Show Answer

Q158) Cash account Show Answer

Q159) loan to R account Show Answer

Q160) Loan to M account Show Answer

Q161) bank interest account Show Answer

Q162) Which of the following is the odd one out ? Show Answer

Q163) Which of the following is the odd one out ? Show Answer

Q164) which of the following is the odd one out ? Show Answer

Q165) which of the following is the odd one out ? Show Answer

Q166) Which of the following is the odd one out ? Show Answer

Q167) which of the following is the odd one out ? Show Answer

Q168) Which of the following is the odd one out ? Show Answer

Q169) Which of the following is the odd one out ? Show Answer

Q170) Which of the following is the odd one out ? Show Answer

Q171) Which of the following is the odd one out ? Show Answer

Q172) Which of the following is the odd one out ? Show Answer

Q173) which of the following is the odd one out ? Show Answer

Q174) A sale of goods to ram should be debited to Show Answer

Q175) Wages paid for installing a second hand machinery should be debited to Show Answer

Q176) The rent paid to landlord is credited to Show Answer

Q177) In case of debt becoming bad ,the amount should be credited to Show Answer

Q178) Ram whose account was written off as bad, paid subsequently. The amount should be Show Answer

Q179) Star tours has a Rs.5,000 account receivable from Mr.X .On feb 5, Mr. X makes a partial payment of Rs.3,000 to star tours .The journal entry made on feb 5 by star tour to record this transaction include Show Answer

Q180) Employees took stock costing Rs.1,000 (sale price Rs.1,200) in this case Show Answer

Q181) Income tax Liability of a proprietor paid should be debited to Show Answer

Q182) Goods costing Rs.1,000 (Sale price Rs.1,200) stolen should be credited to Show Answer

Q183) Goods costing Rs.1,000 (Sale price Rs.1,200) destroyed by fire should be credited to Show Answer

Q184) Goods costing Rs.1,000 (Sale price Rs.1,200) distributed as free sample should be credited to Show Answer

Q185) Goods costing Rs.1,000 (Sale price Rs.1,200) given as charity should be credited to Show Answer

Q186) Rent paid to Ram a landlord should be debited to Show Answer

Q187) A withdrawal of cash from bank should be debited to : Show Answer

Q188) A withdrawal of cash from bank for personal use should be credited to : Show Answer

Q189) A withdrawal of cash for personal use should be debited to : Show Answer

Q190) On receipt of Rs.975 from Sam on his account for Rs.1,000. Sam's account should be credited with Show Answer

Q191) On receipt of Rs.975 from Sam in full settlement of his account for Rs.1,000. Sam's account should be credited with Show Answer

Q192) On purchase of goods of the list price of Rs.10,000 from Ram who allowed 10 % trade discount & 5 % cash discount for immediate payment Show Answer

Q193) on purchase of goods of the list price of Rs.10,000 from Ram who allowed 10 % trade discount & charged 10 % VAT purchase account to be debited with Show Answer

Q194) Goods sold to Ram for cash Rs.1,000 Show Answer

Q195) Received a first & final dividend of 60 paise in the rupee from the official receiver of Mr.Raj who owed us Rs.1,000 Show Answer

Q196) on purchase of a machine Rs.100 paid to worker as wages for installing the machine Show Answer

Q197) on purchase of an old machine the machine was repaired at a cost of Rs.1,000 Show Answer

Q198) The return of goods by a customer should be debited to Show Answer

Q199) Ram paid Rs.900 towards a debt of Rs.950 which was written off as a bad debt in the previous year Show Answer

Q200) After the preparation of the trial balance the accountant finds that the total of debit side is short by Rs.1,500.This difference will be Show Answer

Q201) the following is not a book of original entry Show Answer

Q202) the following is a book of original entry & also part of the ledger Show Answer