Accountancy

Principles of Accounting
When the payment of cash is postponed for a future date, this transaction is said to be:
Credit transaction
Cash transaction
None of the above
Introduction
Author: rikazzz Comment
Principles of Accounting
Building purchased for each will be posted to building account on the:
Debit side
Credit side
Both side
None of these
Author: rikazzz Comment
Principles of Accounting
The closing balance of the current year will be the opening balance of the :
Last year
Current year
Next year
None of these
Author: rikazzz Comment
Principles of Accounting
Mr.Imran account is a kind of:
Real accounts
Personal account
Nominal account
Expenses account
Author: rikazzz Comment
Principles of Accounting
Double entry system requires the maintenance of :
Not any book of accounts
Only one book of accounts
A number of books of accounts
None of these
Author: rikazzz Comment
Principles of Accounting
The use of an accelerated method of depreciation is based on:
Convention of disclosure
Convention of materiality
Convention of conservation
None of these
Author: rikazzz Comment
Principles of Accounting
In ease, the trial balance is not prepared, it will be almost impossible to prepare:
The journal
The ledger
The Financial statement
None of these
Author: rikazzz Comment
Principles of Accounting
When goods are given away as charity or free samples, the purchases a/c show be:
Debited
Credited
Recorded in balance sheet
None of these
Author: rikazzz Comment
Principles of Accounting
The closing debit balance falls on the :
Credit side
Debit side
Both A and B
None of these
Author: rikazzz Comment
Principles of Accounting
A short explanation of each transactions written under each entry which is called:
Narration
Original entry
Subsidiary entry
Memorandum entry
Author: rikazzz Comment

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