Question # 1 of 10 ( Start time: 02:04:07 AM ) Total Marks: 1 If Current Assets Rs. 100,000, Current Liability Rs.

50,000 and Fixed Assets Rs. 2, 00,000. Calculate working capital. Select correct option: Rs. 50,000 Rs. 1, 00,000 Rs. 1, 50,000 Rs. 3, 00,000 Question # 2 of 10 ( Start time: 02:04:41 AM ) Total Marks: 1 What will be debited, if business purchased Vehicle on cash? Select correct option: Vehicle account Cash account Business account Bank account Question # 3 of 10 ( Start time: 02:04:57 AM ) Total Marks: 1 What should be credited, if salary is paid to Sohail? Select correct option: Sohail account Salaries account Cash account Drawings account Question # 4 of 10 ( Start time: 02:06:09 AM ) Total Marks: 1 Revenues, expenses and net profit are found on a: Select correct option: Statement of Cash Flows Income Statement Statement of Owners Equity Balance Sheet Question # 5 of 10 ( Start time: 02:06:27 AM ) Total Marks: 1 Office salaries, advertising and sales commissions are the examples of: Select correct option: Financial Expenses Operating Expenses Marketing Expenses Direct Expenses Question # 6 of 10 ( Start time: 02:06:46 AM ) Total Marks: 1 If salaries are Rs. 2500, purchases Rs. 18,000 and rent Rs. 400; what will be administrative expenses? Select correct option:

Rs. 400 Rs. 2,500 Rs. 2,900 Rs.20, 900 Question # 7 of 10 ( Start time: 02:07:42 AM ) Total Marks: 1 When total liabilities are subtracted from total assets the remaining amount is known as: Select correct option: Equity or net assets Net income or net loss Total expenses Total revenue Question # 8 of 10 ( Start time: 02:08:00 AM ) Total Marks: 1 Which of the following is NOT a characteristic of Cash Book? Select correct option: It has two identical sidesleft hand side, the debit side and right hand side, the credit side It verifies the arithmetic accuracy of posting of entries from the Journal to the Ledger The difference between the total of two sides of cash book shows cash in hand It always shows debit balance. It can never show credit balance Question # 9 of 10 ( Start time: 02:09:27 AM ) Total Marks: 1 The proper classification of Suppliers account is: Select correct option: Assets Expenses Revenues Liabilities Question # 10 of 10 ( Start time: 02:10:58 AM ) Total Marks: 1 If Gross profit Rs.16,500 and Cost of goods sold Rs.183,500, what will be the amount of Net Sales? Select correct option: Rs. 183, 500 Rs. 167, 000 Rs. 200, 000 Rs. 230, 000