Accounting Variation Proforma 2 11-20

What the nature of purchases account?

Asset

Drawings

Expenses

Liabilities

Correct! Wrong!

Expired cost of any fixed assets?

Devalue

The purchase of an asset on credit

Deprecation

Decreases

Correct! Wrong!

What is the nature of sales?

Revenue

Liability

Expense

Asset

Correct! Wrong!

All of them are same except?

Returns inward

Returns outwards

Sale return

Returns debits

Correct! Wrong!

Every transaction has minimum __________________?

Two aspects

Five aspects

Three aspects

Four aspect

Correct! Wrong!

To record goods returned inward?

Debit returns inward and credit payable account

Debit receivable account and credit returns inwards account

Debit returns inwards and credit receivables account

Debit sales account and credit payables account

Correct! Wrong!

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

Vendor

Investors

Stockholders

Reserve taker

Correct! Wrong!

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

No record

None of given options

Correct! Wrong!

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

Creditor

Purchase

Merchandising

Goods

Correct! Wrong!

The rent paid to landlord should be credited to?

Rent

Landlord

Owner equity

Cash

Correct! Wrong!

Accounting Variation Proforma 2 11-20

Super Genius ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Variation Proforma 2 11-20

What the nature of purchases account?

Expired cost of any fixed assets?

What is the nature of sales?

All of them are same except?

Every transaction has minimum __________________?

To record goods returned inward?

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

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

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?

Search