Quiz on Introduction to Book-keeping and Accountancy#1. Amount which is not recoverable from customer is known as ______________ Debtors Debtors Bad Debts Bad Debts Debts Debts Doubtful debts Doubtful debts #2. ______ is a person who owes money to the business. Supplier Supplier Debtor Debtor Creditor Creditor Investor Investor #3. EXPENDITURE INCURRED ON PURCHASE OF FIXED ASSET IS …………… REVENUE EXPENDITURE REVENUE EXPENDITURE DEFERRED REVENUE EXPENDITURE DEFERRED REVENUE EXPENDITURE CAPITAL EXPENDITURE CAPITAL EXPENDITURE NONE OF THESE NONE OF THESE #4. Cash flow statement is prepared and presented for the period for which the profit and lossaccount is prepared. AS-10 AS-10 AS-6 AS-6 AS-2 AS-2 AS-3 AS-3 #5. An act of exchange of things or services between the two parties is termed as______. Business Business Ledger Ledger Transfer Transfer Transaction Transaction #6. A COMMODITY IN WHICH A TRADER DEALS IS KNOWN AS ……………… PROPERTY PROPERTY INCOME INCOME EXPENDITURE EXPENDITURE GOODS GOODS #7. In _____________, joint stock companies emerged as an important form of business organisation. The 12th Century The 12th Century The 21st century The 21st century Chandragupta Maurya’s regime Chandragupta Maurya’s regime The 18th and 19th centuries The 18th and 19th centuries #8. In ____________ basis of accounting, actual cash receipts and actual cash payments are recorded. Accrual Accrual Cash Cash Hybrid Hybrid Mercantile Mercantile #9. Brief explanation of an entry is called as Journalising Journalising Posting Posting Narration Narration Folio Folio #10. HEAVY EXPENDITURE FOR LAUNCHING A NEW PRODUCT IS ………………… REVENUE EXPENDITURE REVENUE EXPENDITURE DEFERRED REVENUE EXPENDITURE DEFERRED REVENUE EXPENDITURE CAPITAL EXPENDITURE CAPITAL EXPENDITURE NONE OF THESE NONE OF THESE #11. CONCEPT WHICH PROVIDES A LINE BETWEEN PRESENT AND FUTURE IS KNOWN AS ACCRUAL CONCEPT ACCRUAL CONCEPT ENTITY CONCEPT ENTITY CONCEPT GOING CONCERN GOING CONCERN COST CONCEPT COST CONCEPT #12. ………. MEANS A REPUTATION OF A BUSINESS VALUED IN TERM OF MONEY. ASSET ASSET GOODWILL GOODWILL PATENT PATENT TRADE MARK TRADE MARK #13. ACCOUNTS MUST BE HONESTLY PREPARED AND THEY MUST DISCLOSE ALL MATERIAL INFORMATION IS KNOWN AS ………………. DUAL ASPECT CONCEPT DUAL ASPECT CONCEPT COST CONCEPT COST CONCEPT DISCLOSURE CONCEPT DISCLOSURE CONCEPT ENTITY CONCEPT ENTITY CONCEPT #14. The immediate recognition of loss is supported by principle of __________ Consistency Consistency Conservatism Conservatism Matching Matching Objective Objective #15. Totalling of journal or ledger is called as ____________ Posting Posting Folio Folio Journalising Journalising Casting Casting #16. SURPLUS OF INCOME OVER EXPENSES IS ………… PROFIT PROFIT FINANCIAL SOCIETIES FINANCIAL SOCIETIES DEFICIT DEFICIT LOSS LOSS FinishResults
