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