32616262
Description
Quiz by mamta narula, updated more than 1 year ago
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Created by mamta narula
over 3 years ago
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Question 1
Question
Accounts are generally of what shape?
Answer
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M shape
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L shape
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A shape
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T shape
Question 2
Question
What is Bad debt?
Answer
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The discount given to debtor
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The discount received from debtor
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The amount irrecoverable from debtor as they become solvent
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The amount irrecoverable from debtor as they become insolvent
Question 3
Question
The increase is debited and decrease is credited is the rule which is applicable to :-
Answer
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Capital account
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Asset account
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Revenue account
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Liability account
Question 4
Question
Where is an increase in Liability, Capitals, and Revenues recorded as per the American approach?
Answer
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Debit
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Credit
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Neither Debit nor Credit
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Both Debit and Credit
Question 5
Question
As per the Modern approach, accounts are classified into how many types?
Answer
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5
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3
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2
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4
Question 6
Question
Sold goods to Mohan for ₹ 5,000 will
Answer
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Increase cash and increase Sales
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Increase cash and decrease Sales
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Increase debtor and increase Sales
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Increase debtor and decrease Sales
Question 7
Question
Paid to creditors Rs 8,000
Answer
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Cash decrease Creditor decrease
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Cash increase Creditor decrease
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Cash increase Creditor increase
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Cash decrease Creditor increase
Question 8
Question
If goods worth ₹ 7,000 are given as charity
Answer
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Goods account is debited
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Goods account is credited
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Purchases account is debited
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Purchases account is credited
Question 9
Question
Sold goods to Yuvraj on Cash Rs 80,000
Answer
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Revenue increase & Cash decrease
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Revenue increase & Yuvraj's account (the debtor) increase
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Revenue increase & cash increase
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Revenue decrease & Yuvraj's account (the debtor) decrease
Question 10
Question
Full form of L.F is
Answer
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Ledger form
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Long folio
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Ledger folio
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Long Form
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