Accounting Variation Proforma 2 11-20

Expired cost of any fixed assets?

Devalue

Decreases

The purchase of an asset on credit

Deprecation

Correct! Wrong!

Every transaction has minimum __________________?

Five aspects

Three aspects

Two aspects

Four aspect

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?

Stockholders

Vendor

Investors

Reserve taker

Correct! Wrong!

What the nature of purchases account?

Asset

Liabilities

Drawings

Expenses

Correct! Wrong!

The rent paid to landlord should be credited to?

Cash

Landlord

Rent

Owner equity

Correct! Wrong!

What is the nature of sales?

Asset

Expense

Revenue

Liability

Correct! Wrong!

To record goods returned inward?

Debit receivable account and credit returns inwards account

Debit returns inwards and credit receivables account

Debit returns inward and credit payable account

Debit sales account and credit payables account

Correct! Wrong!

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

Merchandising

Creditor

Purchase

Goods

Correct! Wrong!

All of them are same except?

Returns outwards

Returns debits

Returns inward

Sale return

Correct! Wrong!

Accounting Variation Proforma 2 11-20

Super Genius ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Variation Proforma 2 11-20

Expired cost of any fixed assets?

Every transaction has minimum __________________?

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 the nature of purchases account?

The rent paid to landlord should be credited to?

What is the nature of sales?

To record goods returned inward?

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

All of them are same except?

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