To record goods returned inward?

Debit returns inward and credit payable account

Debit sales account and credit payables account

Debit returns inwards and credit receivables account

Debit receivable account and credit returns inwards account

Correct! Wrong!

Expired cost of any fixed assets?

Deprecation

Devalue

The purchase of an asset on credit

Decreases

Correct! Wrong!

The person or corporation from whom the business is purchased is?

Investors

Reserve taker

Stockholders

Vendor

Correct! Wrong!

What is the nature of sales?

Asset

Revenue

Liability

Expense

Correct! Wrong!

All of them are same except?

Returns outwards

Returns inward

Returns debits

Sale return

Correct! Wrong!

If the goods are purchased for the purpose of resale on credit, then the following account would be credited?

Goods

Merchandising

Purchase

Creditor

Correct! Wrong!

The rent paid to landlord should be credited to?

Cash

Landlord

Rent

Owner equity

Correct! Wrong!

What the nature of purchases account?

Drawings

Expenses

Liabilities

Asset

Correct! Wrong!

Every transaction has minimum __________________?

Three aspects

Five aspects

Four aspect

Two aspects

Correct! Wrong!

When drew cash from bank Rs. 8,000 for office use bank account will be?

None of given options

No record

Correct! Wrong!

Accounting Variation Proforma 2 11-20

Super Genius ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Variation Proforma 2 11-20

To record goods returned inward?

Expired cost of any fixed assets?

The person or corporation from whom the business is purchased is?

What is the nature of sales?

All of them are same except?

If the goods are purchased for the purpose of resale on credit, then the following account would be credited?

The rent paid to landlord should be credited to?

What the nature of purchases account?

Every transaction has minimum __________________?

When drew cash from bank Rs. 8,000 for office use bank account will be?

Search