Accounting - Practice Test

[#2831] According to the Double Entry System, salary paid to a clerk Ramesh is a

(A) Real Transaction

(B) Personal Transaction

(C) Nominal Transaction

(D) Both Real and Personal Transaction

Correct Answer

(C) Nominal Transaction

[#2832] Which of the following should be shown on the asset side of the Balance Sheet:

(A) Preliminary Expenses

(B) Outstanding Rent

(C) Share Premium A/c

(D) None of the above

(E) Prepaid insurance

(F) Share premium

(G) Outstanding wages

(H) Outstanding salaries

Correct Answer

(A) Preliminary Expenses
(E) Prepaid insurance

[#2833] Which of the following ratios are taken into consideration by a banker before sanctioning the loan?

(A) Proprietory Ratio

(B) Stock-Turnover Ratio

(C) Debt-Equity Ratio

(D) All of the above

Correct Answer

(C) Debt-Equity Ratio

[#2834] Which of the following shows position at specific Date?

(A) Trading account

(B) Profit and loss account

(C) Manufacturing account

(D) Balance sheet

Correct Answer

(D) Balance sheet

[#2835] Value added statement is a statement prepared under:

(A) Financial Accounting

(B) Management Accounting

(C) Human Resource Accounting

(D) Social Accounting

Correct Answer

(D) Social Accounting

Accounting - Study Mode

[#2831] According to the Double Entry System, salary paid to a clerk Ramesh is a

Correct Answer

[#2832] Which of the following should be shown on the asset side of the Balance Sheet:

Correct Answer

[#2833] Which of the following ratios are taken into consideration by a banker before sanctioning the loan?

Correct Answer

[#2834] Which of the following shows position at specific Date?

Correct Answer

[#2835] Value added statement is a statement prepared under:

Correct Answer