Accounting Variation Proforma (11-20)

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!

The rent paid to landlord should be credited to?

Rent

Landlord

Cash

Owner equity

Correct! Wrong!

What the nature of purchases account?

Expenses

Liabilities

Drawings

Asset

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!

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

Reserve taker

Investors

Vendor

Stockholders

Correct! Wrong!

What is the nature of sales?

Expense

Revenue

Asset

Liability

Correct! Wrong!

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

Purchase

Merchandising

Goods

Creditor

Correct! Wrong!

Every transaction has minimum __________________?

Two aspects

Four aspect

Three aspects

Five aspects

Correct! Wrong!

Expired cost of any fixed assets?

Decreases

Devalue

Deprecation

The purchase of an asset on credit

Correct! Wrong!

All of them are same except?

Returns debits

Returns outwards

Sale return

Returns inward

Correct! Wrong!

Accounting Variation Proforma (11-20)

Super Genius ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Variation Proforma (11-20)

To record goods returned inward?

The rent paid to landlord should be credited to?

What the nature of purchases account?

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

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

What is the nature of sales?

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

Every transaction has minimum __________________?

Expired cost of any fixed assets?

All of them are same except?

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