Description : Cash A/c is a ________ A/c. a) Personal b) Real c) Nominal d) None
Last Answer : b) Real
Description : The rule debit all expenses and losses and credit all income and gains relates to A] Personal account B] Real account C] Nominal accounts D] All
Last Answer : C] Nominal accounts
Description : The principle ―Debit the receiver and credit the giver‖ is related to_____ a) Personal a/c b) Real a/c c) Nominal a/c d) None
Last Answer : a) Personal a/c
Description : Capital A/c is a _______ A/c. a) Personal b) Real c) Nominal d) None
Last Answer : a) Personal
Description : Debit the receiver & credit the giver is _____ account a) Personal b) Real c) Nominal d) All the above
Description : Which of the following is wrong? (a) All real and personal accounts are transferred to balance sheet (b) Nominal accounts are transferred to P &L account (c) Each account is opened separately in ledger (d) Rent is a personal account, outstanding rent is nominal account
Last Answer : d) Rent is a personal account, outstanding rent is nominal accoun
Description : Share Call Account is _______________ A. Real A/c B. Personal A/c C. Nominal A/c D. Fictitious A/c
Last Answer : B. Personal A/c
Description : Share Allotment Account is _______________ A. Real A/c B. Personal A/c C. Nominal A/c D. Fictitious A/c
Description : Share application Account is _______________ A. Real A/c B. Personal A/c C. Nominal A/c D. Fictitious A/c
Description : Share allotment account is a ------------------. A. personal account B. Real account C. Nominal account D. Impersonal accoun
Last Answer : A. personal account
Description : If wages are paid for construction of business premises ______ A/c is credited and _____ A/c is debited. a) Wages, Cash b) Premises, Cash c) Cash, Wages d) Cash, Premises
Last Answer : d) Cash, Premises
Description : Which of the following is not a nominal Account? A] Outstanding salaries Account B] Salaries account C] Interest paid D] Commission received
Last Answer : A] Outstanding salaries Account
Description : Which of the following is not a Real Account? a) Cash A/c b) Investments A/c c) Out standing rent A/c d) Purchases A/c
Last Answer : c) Out standing rent A/c
Description : Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is ______ nature and profit on sale is a) Capital & transferred to capital ... L a/c c) Capital & transferred to P & L a/c d) Revenue & transferred to general reserve
Last Answer : b) Revenue & transferred to P & L a/c
Description : Cash discount allowed to a debtor should be credited to a) Discount account b)Customer’s account c) Sales account d) Cash account
Last Answer : b)Customer’s account
Description : Rent paid to landlord should be credited to a) Landlords account b) Rent account c)Cash account d) Expense account
Last Answer : c)Cash account
Description : Sales made to Mahesh for cash should be debited to________________ a) Cash account b) Mahesh Account c) Sales account d) Purchase account
Last Answer : a) Cash account
Description : Fixed assets are held by business for _____ a) Converting into cash b) Generating revenue c) Resale d) None of the above
Last Answer : b) Generating revenue
Description : A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him? a) Going concern b) Cost c) Accrual
Last Answer : c) Accrual
Description : Risk in capital budgeting implies that the decision maker knows _ of the cash flows. A. Variability B. Certainty C. Probability D. None of these
Last Answer : C. Probability
Description : Bonus shares can be issued by a company A. Out of the Reserves created by revaluation of fixed assets B. Out of share premium not collected in cash C. Without any provision for it in the Articles of Association of the company D. Out of free reserves built out of genuine profit
Last Answer : D. Out of free reserves built out of genuine profit
Description : Which of the following statements is not correct? A. For the purpose of Funds Flow Statement, the term 'fund ' generally refers to net working capital B. Funds flow is a wider concept than ... business D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Last Answer : D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Description : Which is the type of dividend? A. Cash Dividend B. Interest C. Profit cum-reserve D. Flexible Capital
Last Answer : A. Cash Dividend
Description : Which is the form of dividend? A. Cash dividend B. Bond dividend C. Stock dividend D. All of these
Last Answer : D. All of these
Description : Liquidator‘s statement of receipt and payment is known as A. Cash flow statement B. Deficiency a/c C. Statement of affairs D. Liquidator‘s final statement of A/c
Last Answer : D. Liquidator‘s final statement of A/c
Description : Discounted cash flow criteria for investment appraisal does not include A. Not present value B. Benefit cost ratio C. Accounting rate of return D. Internal rate of return
Last Answer : B. Benefit cost ratio
Description : Which is true for existing Economic and Industrial policies of Indian Government ? (i) FERA was abolished (ii) MRTP was abolished (iii) Cash compensatory support for export was abolished (iv) Industrial Licensing (except a few ... (iii) and (iv) C. Only (iii) and (iv) D. Only (ii) and (iii)
Last Answer : C. Only (iii) and (iv)
Description : Which among the following is not the instrument of monetary policy A. Deficit financing B. Statutory liquidity Ratio C. Cash reserve ratio D. Open market operation
Last Answer : A. Deficit financing
Description : If the intrinsic values of shares exchanged are not equal, the difference is paid in ........... (A)Cash (B)Debenture (C)Pref. share (D)Assets
Last Answer : (A)Cash
Description : Human resources will not appear in the balance sheet according to ______ concept. a) Accrual b) Going concern c) Money measurement concept d) None
Last Answer : c) Money measurement concept
Description : Change in the capital A/c of proprietor may occur due to ______ a) Profit earned b) Loss incurred c) Capital Introduced d)All of theabove
Last Answer : d)All of theabove
Description : Amount spent to increasing the earning capacity is a ______ expenditure a) Capital b) Revenue c) Deferred revenue d) Capital Loss
Last Answer : a) Capital
Description : For amalgamation in the nature of merger, the shareholders holding at least ______ or more of the equity shares of the transferor company becomes the equity shareholders of the transferee company. A. 51% B. 90% C. 99% D. 100%
Last Answer : B. 90%
Description : Value of goods withdrawn by the proprietor for his personal use should be credited to ____ a) Capital A/c b) Sales A/c c) Drawings A/c d) Purchases A/c
Last Answer : d) Purchases A/c
Description : The first firm to mass-market a microcomputer as a personal computer was a. IBM b. Super UNIVAC c. Radio Shaks d. Data General Corporation
Last Answer : c. Radio Shaks
Description : Most of the inexpensive personal computer does not have any disk or diskette drive. What is the name of such computes? a. Home computers b. Diskless computers c. Dedicated computer d. General computer
Last Answer : a. Home computers
Description : Multi user systems provided cost savings for small business because they use a single processing unit to link several a. Personal computers b. Workstations c. Dumb terminals d. Mainframes
Last Answer : c. Dumb terminals
Description : A typical personal computer used for business purposes would have… of RAM. a. 4 KB b. 16 K c. 64 K d. 256 K
Last Answer : d. 256 K
Description : The use of spooler programs and/or …. Hardware allows personal computer operators to do the processing work at the same time a printing operation is in progress a. Registered mails b. Memory c. CPU d. Buffer
Last Answer : d. Buffer
Description : The personal computer industry was started by a. IBM b. Apple c. Compaq d. HCL
Last Answer : a. IBM
Description : The system unit of a personal computer typically contains all of the following except: a. Microprocessor b. Disk controller c. Serial interface d. Modem
Last Answer : d. Modem
Description : Personal computers use a number of chips mounted on a main circuit board. What is the common name for such boards? a. Daughter board b. Motherboard c. Father board d. Breadboard
Last Answer : b. Motherboard
Description : IMB launched its first personal computer called IBM-PC in 1981. It had chips from Intel, disk drives from Tandon, operating system from Microsoft, the printer from Epson and the application software from ... country which contributed the video display? a. India b. China c. Germany d. Taiwan
Last Answer : d. Taiwan
Description : Goods withdrawn by the proprietor for his personal use are A. Shown as a deduction from the purchases B. Shown as a deduction from the sales C. Treated as sales at cost price D. Added to the purchases
Last Answer : A. Shown as a deduction from the purchases
Description : Which one is not an element of internal environment? A. Marketing capabilities B. Operational Capabilities C. Money and capital market D. Personal Capabilities
Last Answer : C. Money and capital market
Description : Which of the following is a Real A/c? a) Building A/c b) Capital A/c c) Shyam A/c d) Rent A/c
Last Answer : a) Building A/
Description : In the third Generation of computers a. Distributed data processing first became popular b. An operating system was first developed c. High level procedural language were first used d. Online real time systems first become popular
Last Answer : d. Online real time systems first become popular
Description : RATS stand for a. Regression Analysis Time Series b. Regression Analysis Time Sharing c. Real Analysis Series d. All of above
Last Answer : a. Regression Analysis Time Series
Description : Time during which a job is processed by the computer is a. Delay times b. Real time c. Execution time d. Down time
Last Answer : c. Execution time
Description : AS -10 (Accounting Standard on Fixed Assets) does not deal with accounting for the following items to which special considerations apply A. Forests, plantations and similar regenerative natural ... resources C. Expenditure on real estate development and livestock D. None of the above
Last Answer : D. None of the above