1. Double entry bookkeeping means that?

Correct! Wrong!

2. Which one the following document is prepared for documentary evidence by business?

Correct! Wrong!

3. The basic sequence in the accounting process can best be described as?

Correct! Wrong!

4. Revenue is generally recognized being earned at the point of time when?

Correct! Wrong!

5. The accounting system, in which accounting entries are made on the basis of amount having become due for payment or receipt, is known as?

Correct! Wrong!

6. Bookkeeping is mainly concerned with?

Correct! Wrong!

7. Which one of the following system of recording transaction has a dual aspect concept of accounting?

Correct! Wrong!

8. The documents relating to purchase of asset must be authorized by?

Correct! Wrong!

9. Accrual-basis of accounting?

Correct! Wrong!

10. A manufacturer is considering the point at which a transaction can be recognized within its profit and loss account. At which of the following stages is this permitted?

Correct! Wrong!

Accounting Cycle (1-10)
Super Genius ***
Excellent ***
Very Good **
Good *
Fair
Fail

Share your Results: