(A) Opening Stock
(B) Closing Stock
(C) Wages and Salary
(D) Salesmen Commission
Tag: Accounting Questions
Cash sales will be recorded in __.
(A) Sales Day Book
(B) Cash Book
(C) Purchase Book
(D) Return in Ward Book
Owing of the business are called __.
(A) Liabilities
(B) Capital
(C) Net Worth
(D) Assets
The document listing the latest balances of all Real and Personal A/c in the ledger on a given date is known as __.
(A) Trial Balance
(B) Positional Statement
(C) Income Statement
(D) Charter of Accounts
Residual value is the __.
(A) value of the asset when it is purchased
(B) value of the asset at the end of its useful life
(C) cost of the asset
(D) allocation of the cost
An account is said to have a debit balance if __.
(A) The amount of the debits exceeds the amount of the credits
(B) There are more entries on the debit side than on the credit side
(C) Its normal balance is debit without regard to the amounts or number of entries on the debit side
(D) The last entry of the accounting period was posted on the debit side
Accounts dealing with transaction relating to persons or an organization is called?
(A) Personal Account
(B) Nominal Account
(C) Real Account
(D) Representative Personal Account
The maximum amount beyond which a company is not allowed to raise funds, by issue of share is?
(A) Issued Capital
(B) Reserve Capital
(C) Subscribed Capital
(D) Authorised Capital