Foundation PN-2 Accounts and Cost Quiz 8

The person who accepts the bill is called:

A Bill of Exchange is drawn by:

If A and B share profit equally and profit is ₹20,000, share of A is:

In Joint Venture, profit is shared:

Joint Venture is a:

Which of the following is non-recurring expense?

If goods worth ₹50,000 are sent and normal loss is 10%, cost per unit increases by:

Del-credere commission is given to:

Expenses incurred by consignee are:

Goods sent on consignment are credited in:

The consignee is:

Consignment is a transaction in which:

The purpose of creating provision for doubtful debts is to:

If machinery cost ₹60,000 and depreciation is 10% SLM, depreciation for first year is:

Diminishing Balance Method results in:

Straight Line Method of depreciation results in:

Provision for doubtful debts is created to:

Suspense account is used when:

Accrued expenses are recorded to:

A bank charge not recorded in Cash Book is:

Cheques issued but not yet presented for payment are:

A Bank Reconciliation Statement is prepared to:

A Contra entry in Cash Book is made when:

The Bank Column in a Cash Book records:

Posting from a Journal to Ledger is done to: