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Head of Accounts
Which of the following is not generally the characteristic of a partnership business?
Limited life
Ease of formation
Mutual agency
Limited liability
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Head of Accounts
Which one of the following is the method of goodwill valuation?
Average capital method
Super capital method
Capital intensity method
Super profit method
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Head of Accounts
Which of the following object is used for Tax Receipts?
A0000
B0000
C0000
E0000
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Head of Accounts
Which of the following object is used for Capital receipts?
A0000
B0000
C0000
E0000
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rikazzz
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Head of Accounts
The chart of accounts contains five elements. These are as follows:
Entity, Object, Fund, Function and Project
Entity, Object, Fund, Duty and Project
Entity, Object, Fund, Function and Goal
All of these
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rikazzz
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Head of Accounts
NAM is based on modified cash Basis of Accounting, in so far as it provides for:
Commitment accounting
Accounting for assets and liabilities
Double entry booking
All of these
Author:
rikazzz
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Head of Accounts
Which account is used fot transactions concerned with head office supplying resources to the branch?
Current account
Capital account
Joint venture account
Branch account
Author:
rikazzz
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Head of Accounts
Which of the following sub head accounts are used for deposits and advances?
Deposits bearing interest
Deposits not bearing interest
Advances
All of these
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rikazzz
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Head of Accounts
The use of the entity element is mandatory for all accounting transactions. It includes:
Government, Ministry
Division / Department
Attached Department
All of these
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rikazzz
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Head of Accounts
$500 debit was entered as $500 credit in sales ledger control account. What’s its adjustment in the sales ledger control accounts?
$500 should be debited
$500 should be credited
$1000 should be debited
$1000 should be credited
Author:
rikazzz
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