Accounting Variation Proforma 2 11-20

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

No record

None of given options

Correct! Wrong!

All of them are same except?

Returns inward

Sale return

Returns debits

Returns outwards

Correct! Wrong!

Expired cost of any fixed assets?

Deprecation

The purchase of an asset on credit

Devalue

Decreases

Correct! Wrong!

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

Goods

Merchandising

Creditor

Purchase

Correct! Wrong!

What is the nature of sales?

Expense

Liability

Revenue

Asset

Correct! Wrong!

Every transaction has minimum __________________?

Two aspects

Three aspects

Five aspects

Four aspect

Correct! Wrong!

To record goods returned inward?

Debit sales account and credit payables account

Debit receivable account and credit returns inwards account

Debit returns inward and credit payable account

Debit returns inwards and credit receivables account

Correct! Wrong!

What the nature of purchases account?

Drawings

Expenses

Liabilities

Asset

Correct! Wrong!

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

Investors

Stockholders

Reserve taker

Vendor

Correct! Wrong!

The rent paid to landlord should be credited to?

Cash

Landlord

Owner equity

Rent

Correct! Wrong!

Accounting Variation Proforma 2 11-20

Super Genius ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Variation Proforma 2 11-20

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

All of them are same except?

Expired cost of any fixed assets?

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

What is the nature of sales?

Every transaction has minimum __________________?

To record goods returned inward?

What the nature of purchases account?

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

The rent paid to landlord should be credited to?

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