Which of the following accounts will be credited if a company purchases building for cash?
A. Capital account
B. Fixed assets account
C. Building account
D. Cash account
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In which of the following orders data is entered in journal?
A. Alphabetical order
B. Numeric order
C. Bullets order
D. Chronological order
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The standard format of journal does not include which of the following?
A. Assets column
B. Date column
C. Description column
D. Amount column
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Journals are also referred as_____________?
A. Book of entries
B. Book of original entries
C. T account
D. Books of economic event
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Which of the following accounts will be debited if the business’s owner withdraws cash from business for his personal use?
A. Drawings
B. Cash
C. Business
D. Stock
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Which of the following will be debited if a business purchases goods on credit?
A. Cash
B. Debtor
C. Creditor
D. Purchases
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_________ is the evidence that a transaction took place?
A. Source documents
B. Ledger
C. Bonds
D. Journals
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Discount allowed is___________?
A. Expense of business
B. Income of business
C. Loss of business
D. Abnormal loss of business
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Goods returned by customer should be debited to which of the following accounts?
A. Sales income account
B. Sales account
C. Return inward account
D. Expenses account
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he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?
A. 2,10
B. 10,2
C. 10,30
D. 3,15
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Word of the Day
03 Aug
Obscenity
the state or quality of being obscene.
بے ہودگی، فحاشی

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