Accounting Variation Proforma 2 11-20

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

Investors

Vendor

Stockholders

Reserve taker

Correct! Wrong!

To record goods returned inward?

Debit receivable account and credit returns inwards account

Debit returns inward and credit payable account

Debit returns inwards and credit receivables account

Debit sales account and credit payables account

Correct! Wrong!

The rent paid to landlord should be credited to?

Rent

Cash

Landlord

Owner equity

Correct! Wrong!

What the nature of purchases account?

Liabilities

Drawings

Asset

Expenses

Correct! Wrong!

All of them are same except?

Returns inward

Returns debits

Sale return

Returns outwards

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!

Every transaction has minimum __________________?

Four aspect

Two aspects

Three aspects

Five aspects

Correct! Wrong!

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

Goods

Creditor

Merchandising

Purchase

Correct! Wrong!

Expired cost of any fixed assets?

Decreases

Deprecation

Devalue

The purchase of an asset on credit

Correct! Wrong!

What is the nature of sales?

Liability

Revenue

Asset

Expense

Correct! Wrong!

Accounting Variation Proforma 2 11-20

Super Genius ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Variation Proforma 2 11-20

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

To record goods returned inward?

The rent paid to landlord should be credited to?

What the nature of purchases account?

All of them are same except?

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

Every transaction has minimum __________________?

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

Expired cost of any fixed assets?

What is the nature of sales?

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