Professional Documents
Culture Documents
(A) 8
(B) 9
(C) 10
(D) 11
(A) Unlimited
(B) Limited
(C) Compulsory
(A) Shareholder
(C) Underwriter
(D) Promoter
(A) Profit
(D) Expenditure
(A) Limited
(B) Unlimited
The persons who take initiative for the formation of a company are known as
(A) Directors
(B) Promoters
(B) Partners
(D) Promoters
The person who takes the initiative in the matter of formation of a company is known as the
(A) Promoter
(C) Director
(D) Registrar
(A) Shares
(B) Debentures
(A) Agent
(B) Partner
(C) Firm
Company is managed by
(B) Directors
(C) Employees
(A) Depreciation
(B) Fluctuation
(C) Depletion
(D) Amortization
Goodwill is a/an
(A) Cash
(B) Car
(C) Goodwill
(D) Land
Goodwill is due to
(B) Management
(C) Location
Consignee is a
(A) Principal
(B) Seller
(C) Buyer
(D) Agent
(A) Seller
(B) Buyer
(C) Consignor
(D) Consignee
(A) Debtor
(B) Creditor
(C) Customer
(D) Principal
(A) Consignor
(B) Consignee
(C) Consignment
(A) Consignor
(B) Consignee
(C) Consignment
(D) Principal
(A) Rs.500
(B) Rs.50000
(C) Rs.5000
(D) Rs.2500
(A) Principal
(B) An agent
(A) Sales
(B) Purchases
(C) Stock
(D) Consignment
(B) Machinery
Depreciation is a/an
(A) Expense
(B) Revehue
(C) Liablity
(D) Asset
(A) Depreciation
(B) Appreciation
(C) Fluctuation
(D) Depiction
If cost of assets is Rs.53000 scrap value Rs.8000 estimated life 5 years the amount of depreciation
will be
(A) Rs.900
(B) Rs.9000
(C) Rs.1000
(D) Rs.10000
(A) Increases
(B) Decreases
(A) Over-stated
(B) Under-stated
(C) Balanced
(D) Nominal
On the admission of a new partner depreciation fund is transferred to
(A) Asset
(B) Liability
(C) Income
(D) Expense
(A) 1984
(B) 1932
(C) 1912
(D) 1962
(A) 20
(B) 50
(C) 60
(D) 2
The persons who have entered into a partnership are individually called
(A) Agents
(B) Partners
(C) A firm
(D) Vendors
(C) Partnership
(B) Discount
(C) Premium
Debenture is a receipt of
(A) Capital
(B) Profit
(C) Share
(D) Property
In single entry system of bookkeeping, opening and ending capital can be calculated by preparing of
A person who lends his name to firm and invests no capital is called
In the absence of an agreement profit and losses are divided by patterns in ratio of
(A) Capital
(C) Equally
Outstanding rent is
(A) Asset
(B) Liability
(C) Income
The system in which accounting records are not kept strictly according to the double entry principles
of book keeping
(A) An expense
(B) An income
(C) An asset
(D) Liability
In the Single Entry System, both the aspects, debit and credit of a transaction are not recorded so it
is
(A) Income
(B) Expense
(C) Asset
(D) Liability
(A) Forty
(B) Fifty
(C) Sixty
(D) Unlimited
(A) 2
(B) 50
(C) 10
(D) 7
(B) Publicity
(B) Monthly
(C) Weekly
If the credit side of income and expenditure account is greater than it’s debit side, it is termed as
(A) Surplus
(B) Deficit
(C) Asset
(D) Liability
(A) Expenses
(B) Earnings
(C) Assets
(D) Liabilities
(A) Four
(B) Two
(C) Three
(D) Five
How many methods are available to calculate the profit and loss under single entry system?
(a) 1
(b) 2
(c) 3
(d) 4
The system in which double entry system of bookkeeping is not strictly followed is called
A partner who does not take an active part in the management of the firm is called
A partner who lends his name and reputation to the firm is called
(B) Twenty
(C) Thirty
(D) Fifty
The institutions which are established not for earning profit but for the welfare of the society are
called
(A) Law
(B) Registrar
(C) Employees
Registration of a firm is
(A) Necessary
(B) Optional
(A) 3
(B) 1
(C) 2
(D) 20
(A) Liabilities
(C) Expenses
(B) Income
(B) Prospectus
(A) Appreciation
(B) Depletion
(C) Fluctuation
Due to fluctuation in the market price. the value of any asset may
(A) Increase
(B) Decrease
(C) No change
The amount received by non-profit concerns from its members on regular bases is
(C) Subseription
(D) Donation
A Company is formed by
(A) Income
(B) Expense
(C) Liability
(D) Asset
Fixed asset is
(A) Cash
(B) Building
(C) Investment
(A) 5
(B) 2
(C) 4
(D) 3
The act of sending goods by owner to his agent for sale is called
(A) Sales
(B) Consignment
(C) Purchase
(A) Income
(B) Expense
(C) Asset
(D) Liability