B. None of them

C. Balance sheet accounts

D. Real accounts

A. Prompt payment discount

B. Bulk discount

D. Trade discount

A. All changes after Balance Sheet date before its approval

C. All the significant events after the Balance Sheet date

D. The events after Balance Sheet date but before submitting it to the Registrar of Companies

B. Assets=Cash+Capital

C. Assets=Expenses+Capital

D. Asset=Expense +Income

A. None of these

B. Return of goods

D. Credit purchase of fixed assets

A. Creditors

B. Government agencies

D. investors

A. Numeric order

B. Bullets order

C. Alphabetical order

A. Liquid asset

B. intangible asset

D. Current asset

A. Errors of carry forward

B. Errors of casting

D. Errors of posting

B. Results in the acquisition of a current asset

C. Benefits the current accounting period

D. Will benefit the next accounting period

A. Capital

C. Absorbed capital

D. Net assets

A. Net income

C. Net expenses

D. Cash

A. Auditing the books of accounts

B. Analyzing

D. Preparing financial statements

A. Royalty paid in installments for the purchase of rights to manufacture and sell patient medicines.

C. Expenditure incurred in connection with the renewal of a Trade Mark.

D. Gratuities paid to Directors on termination of their services.

A. $20,000

C. $10,000

D. $15,000

A. Cheque issued but not presented

B. Cheque issued but dishonoured

C. Cheque deposited and credited by bank

A. Tax regulations and asset usage

B. Tax regulations and SEBI guidelines

D. SEBI guidelines and Asset usage

A. Rent income account

C. Rent expenses account

D. insurance expenses account

A. Entry in two sets of books

B. Entry at two ends

D. Entry at two dates

B. 3,15

C. 10,30

D. 10,2

A. Production method

B. Percentage-of-completion method

C. Delivery method

A. Cash documents

B. Bank statement

C. Statement of cash flow

A. Overstatement of Liabilities

B. Overstatement of Assets

D. Understatement of Liabilities

A. Economics

B. Auditing

C. Accountancy

B. Credit sales and purchases

C. Credit sales

D. Credit purchases

A. Capital+ Liabilities=Assets+Income

C. Cash+Other assets=Capital-Liabilities

D. Assets+Capital=Liabilities

A. Liability

B. Revenue receipts

C. Assets

A. Increase

C. Decrease

D. Appreciation

A. Cash receipts journal

B. Cash payments journal

C. Purchases return journal

A. Appropriation expenses

C. Inflows of cash

D. cash outflows

A. Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq

B. . Purchases of `720 from Shyam entered in the purchases journal as `700

C. . Purchases Journal is overcast by `1,000

D. . Sales returns journal is undercast by `200

E. Bank overdraft shown under debit column in the Trial Balance

F. Amount paid to Agarwal wrongly posted to the debit to Mittals account

A. The income was overstated during 2011-12 and closing inventory will be overstated during 2012-2013

B. The cost of goods sold was overstated during 2011-2012 and income will be understated during 2012-2013

D. The cost of goods sold was understated during 2011-2012 but retained earnings will not be affected during 2012-2013

A. 12,000 (understated.

B. 17,000 (overstated.

D. 7,000 (understated.

A. Goodwill A/c

B. Bank A/c

C. Salary A/c

A. Credit increases the capital account balance

C. Net income increases the capital account balance

D. Fresh capital increases the capital account balance

A. Acquisition of an Asset

C. Extension of an Asset

D. Improvement of the existing Asset

A. Preparing trial balances

B. Identifying transactions

D. Preparing T Accounts

B. Creditor of the business

C. Government agency

D. Shareholder of the business

B. Trial balance

C. Cash book

D. Bank A/c

A. Remain the same

C. No effect on capital

D. Increase in capital

A. Small expenditures on long- lived assets, such as ` 20 for a paper weight.

B. Interest on loans and debentures

C. Annual fire insurance premiums on Plant and Equipment

B. Omissions of economic events

C. Errors of commission

D. Understatements of balances

A. It is not a part of accounting cycle

B. It is a kind of financial statement

D. It lists down the balances of a balance sheet

A. Current liabilities and non-current liabilities

C. Current assets and non-current liabilities

D. Profit and loss A/C and Balance sheet

B. Complete omission of a transaction

C. Error of principle

D. Compensating errors

A. Fictitious assets

B. Quick assets

C. Fixed assets

A. Sale return

C. Purchases

D. Equity

A. A customer to whom goods have been sold on credit cannot avail himself of a cash discount

B. If a Trial Balance tallies, it always means that none of the transactions has been completely omitted

D. A Trial Balance will not tally if a transaction is omitted

B. Straight line Method

C. Sum of digits Method

D. Written down value Method