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1. The rate of return required by investors in the market for owning a bond is called the : Marks: 2+ 0.

5Coupon Face value Maturity Yield to maturity Coupon rate The Correct Answer is : Coupon Module : Module A Chapter : Chapter3 2. Which bond would most likely possess the least degree of interest rte risk? 0.58% coupon rate, 10 years to maturity 10% coupon rate, 10 years to maturity 8% coupon rate, 20 years to maturity. 12% coupon rate, 20 years to maturity. The Correct Answer is : 8% coupon rate, 10 years to maturity You did not answer the question. Explanation : Module : Module A Chapter : Chapter3 3. Which of the following statement regarding bond pricing is true?

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The lower the discount rate, the more valuable the coupon payments are today. Bonds with high coupon payments are generally (all else the same) more sensitive to changes in interest rates than bonds with lower coupon payments. When market interest rates rise, bond prices will also rise, all else the same. Bonds with short maturities are generally (all else the same) more sensitive to changes in interest rates than bonds with longer maturities. All else the same, bonds with larger coupon payments will have a lower price today. The Correct Answer is : The lower the discount rate, the more valuable the coupon payments are today. You did not answer the question. Explanation : 2This is due to the impact of certain tings and ....... hope this will work well Example Explanation Module : Module A Chapter : Chapter3 4. What is the market value of a bond that will pay a total of fifty semiannual coupons of Rs. 80 each over the remainder of its life? Assume the bond has a Rs. 1,000 face value and a 12% yield to maturity. Marks: 2+ 0.5Rs. 734.86 Rs. 942.26 Rs. 1,135.90 Rs. 1,315.24 Rs. 1,545.62 The Correct Answer is : Rs. 734.86 You did not answer the question. Explanation : Module : Module A Chapter : Chapter3 5. J & J manufacturing just issued a bond with a Rs. 1,000 face value and a coupon rate of 8%. If the bond has a life of 20 years, pays annual coupons, and the yield to maturity is 7.5%, what will the bond sell for? Marks: 2+ 0.5Rs. 975 Rs. 1,020 Rs. 1,051

Rs. 1,087 Rs. 1,162 The Correct Answer is : Rs. 975 You did not answer the question. Explanation : Module : Module A Chapter : Chapter3 6. The stock valuation model that determines the current stock price as the next dividend divided by the (discount rate less the dividend growth rate) is called the Marks: 0.5+ undefined Zero growth model Dividend growth model Capital asset pricing model Earnings capitalization model 1 The Correct Answer is : Dividend growth model You did not answer the question. Explanation : Module : Module A Chapter : Chapter3 7. A stock's next expected dividend divided by the current stock price is the : 0.5Current yield Total yield Dividend yield Capital gains yield Earnings yield The Correct Answer is : Current yield You did not answer the question. Explanation : Module : Module A Chapter : Chapter3 8. What would you pay for a share of ABC Corporation stock today if the next dividend will be Rs. 3 per share, your required return on equity investments is 15% and the stock is expected to be worth Rs. 90 one year from now? Marks: 2+ 0.5Rs. 78.26 Rs. 80.87 Rs. 82.56 Rs. 90.00 Rs. 98.12 The Correct Answer is : Rs. 78.26 You did not answer the question. Explanation : Module : Module A Chapter : Chapter3 9. Mclvers meals, Inc. currently pays a Rs. 2 annual dividend. Investors believe that dividends will grow at 20% next year, 12% next year, 12% annually for the two years after that, and 6% annually thereafter. Assume the required return is 10%. What is the current market price of the stock? Marks: 2+ 0.5Rs. 54.90 Rs. 60.80 Rs. 66.60 Rs. 69.30 Rs. 75.20 The Correct Answer is : Rs. 54.90 You did not answer the question.

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Explanation : Module : Module A Chapter : Chapter3 10. The net present value (NPV) rule can be best stated as :

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An investment should be accepted if, and only if, the NPV is exactly equal to zero. An investment should be rejected if the NPV is positive and accepted if it is negative. An investment should be accepted if the NPV is positive and rejected if it is negative. An investment with greater cash inflows than cash outflows, regardless of when the cash flows occur, will always have a positive NPV and therefore should always be accepted The Correct Answer is : An investment should be accepted if, and only if, the NPV is exactly equal to zero. You did not answer the question. Explanation : Module : Module A Chapter : Chapter3 11. A situation in which taking one investment prevents the taking of another is called. Marks: 2+ 0.5Net present value profiling. Operational ambiguity. Mutually exclusive investment decisions. Issues of scale. Multiple rates of return. The Correct Answer is : Net present value profiling. You did not answer the question. Explanation : Module : Module A Chapter : Chapter3 12. Calculate the NPV of the following project using a discount rate of 10% Yr 0 = - Rs800; Yr 1 = -Rs. 80; Yr 2 = Rs. 100; Yr 3 = Rs. 300; Yr 4 = Rs. 500; Yr 5 = Rs. 500 Marks: 2+ 0.5 Rs. 8.04 Rs. 87.28 Rs. 208.04 Rs. 459.17 Rs. 887.28 The Correct Answer is : Rs. 8.04 You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter3 13. You have a choice between 2 mutually exclusive investments. If you require a 15% return, which investment should you choose?A B Year Cash Flow Cash Flow 0 -Rs 1,00,000 -Rs. 125,000 1 20,000 75,000 2 40,000 45,000 3 80,000 40,000 Marks: 1+ 0.25Project A, because it has a smaller intial investment. Project B, because it has a higher NPV. Either one, because they have the same profitability indexes. Project A, because it has the higher internal rate of return. Project B, because it pays back faster. The Correct Answer is : Project A, because it has a smaller intial investment. You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter3 14. Depreciation is an exact science that requires no estimation. Marks: 2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 15. If a car is driven strictly for pleasure it can still be depreciate. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 16. Depreciation expenses result in an indirect tax saving

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 17. In the straight line method, book value never goes below the residual value. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 18. In the declining balance method, we can depreciate below the residual value. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 19. MACRS does not use residual value thus assets are depreciated to zero 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 20. Straight line depreciation does not:

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use residual valued to calculate yearly depreciation

have a book value accelerate depreciation let the cost remain the same one of the above. The Correct Answer is : use residual valued to calculate yearly depreciation You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 21. Which one is not based on passage of time? Marks: 2+ 0.5Straight line Sun-of-the years Declining balance Units of products None of the above. The Correct Answer is : Straight line You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 22. Depreciation expense in the declining balance method is calculated by the depreciation rate: Marks: 2+ 0.5time book value at the begening of the year plus book value at the end of the year divided by book value at the beginning of the year times accumulated depreciation at year end none of the above. The Correct Answer is : time book value at the begening of the year You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 23. If a car is depreciated in 4 years the rate of depreciation using twice the straight line rate is Marks: 2+ 0.5-25% 50% 100% 75% none of the above. The Correct Answer is : -25% You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 24. Cost recovery using MACRS is calculated by. rate divided by cost rate x cost rate + cost none of the above The Correct Answer is : rate divided by cost You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4

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25. A truck cost Rs 1,05,000 with a residual value of Rs. 1,00,000. it has an estimated useful life of 5 years. If the truck was bought on july 9 what would be the book value at the end of year 1? Marks: 2+ 0.5Rs. 1,00,000 Rs. 95,000 Rs. 85,000 Rs. 25,000 None of the above. The Correct Answer is : Rs. 1,00,000 You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 26. A truck cost Rs. 6,000 with a residual value of Rs. 2,000. The truck is expected to have a useful life of 50,000 miles. By assuming the truck is driven 20,000 miles the first year, the depreciation expenses would be; Marks: 2+ 0.52,400 240 16,000 1,600 none The Correct Answer is : 2,400 You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 27. A truck cost 8,900 with a residual value of 500. it is estimated the useful life of the truck is 4 years. The amount of depreciation expense in year 2 by using the declining balance at twice the straight line rate is Marks: 1+ 0.254,450 2,225 2,252 612 none of the above. The Correct Answer is : 4,450 You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 28. The cost of a van is 3,250 with a residual value of Rs. 750. The van has an estimated useful life of 5 years. The amount of depreciation expense using sum-of-the-year's digit to nearest dollar in year 5 is Marks: 2+ 0.5167 500 833 333 The Correct Answer is : 167 You did not answer the question. Explanation : undefined Module : Module A Chapter : Chapter4 29. Accounting Standards are statements prescribed by: Law Government regulatory bodies Bodies of shareholders

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Professional accounting bodies None of the above. The Correct Answer is : Professional accounting bodies You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 30. In 1494 at Venice, Luca De Bargo Pacioli, an ltalian monk, gave birth to the concepts of modern accounting. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 31. Accounting refers to the art of recording the business transactions in analytical form. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 32. Accountancy and book-keeping are the same.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 33. Accounting records all types of transactions including quarrels between the management and workers, etc. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 34. Accounting Standard 1 deals with depreciation. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 35. Accounting Standard 2 is mandatory.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 36. The Institute of Chartered Accountants of India is a member of the International Accounting Standards Committee. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 37. Financial Statements are prepared using accounting standards.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 38. Accounting Standards issued are reviewed regularly and are subjects to revisions. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 39. '_______________' was written by kautilya on accountancy in ancient India. Marks: 2+ 0.5Arthashashtra Samajshstra Nomashstra None of the above. None of the above. The Correct Answer is : Arthashashtra You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 40. ______________, an Italian monk in Venice gave birth to the modern concept of accounts and book-keeping. Marks: 2+ 0.5Luca De Bargo Luca De Bargo Pacioli Hermansson Bargo Pacioli None of the above. The Correct Answer is : Luca De Bargo Pacioli You did not answer the question.

Explanation : undefined Module : Module B Chapter : Chapter1 41. In ___________system of accounting, incomes and expenses are recognized as the when they are due irrespective of their actual receipt/payment. Marks: 2+ 0.5Dealer Agent Mercantile Agent Mercantile None of the above. The Correct Answer is : Mercantile You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 42. In ____________method of accounting, profit represents excess of receipts over expenditure. Marks: 2+ 0.5Cash Bank Cash/Bank None of the above. None of the above. The Correct Answer is : Cash You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 43. ___________system of recording transactions in books is not a scientific one. Marks: 2+ 0.5Multiple Entry No Entry Single Entry Double Entry None of the above. The Correct Answer is : Single Entry You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 44. ______________are like rules of accounting issued by an apex accounting body. Marks: 2+ 0.5Accounting Standards Standards Accounting Financial Accounting None of the above. None of the above. The Correct Answer is : Accounting Standards You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 45. In India, accounting standard are issued by the _____________________under Council of the Institute of Chartered Accountants of India. Marks: 2+ 0.5Standards Board

Accounting Board Accounting Standards Board C A Board None of the above. The Correct Answer is : C A Board You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 46. There are ____________Accounting Standards in India.

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Eghty Two Twenty Seven Twenty Nine Twenty Eight None of the above. The Correct Answer is : Twenty Eight You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 47. Compliance with Accounting Standard is the duty of the_________.

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Auditor. Lessee Lessor Detor None of the above. The Correct Answer is : Auditor. You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter1 48. The materiality concept refers to the state of ignoring small items and values from accounts. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 49. The Generally accepted accounting principles prescribe a uniform accounting practice. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 50. The conservatism concept leads to the exclusion of all unrealized profits. 0.5True False The Correct Answer is :

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You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 51. Accounting concepts are: Marks:

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Broad assumptions Methods of presenting financial accounts Bases selected to prepare a specific set of accounts None of the above. The Correct Answer is : Broad assumptions You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 52. For nominal accounts, the fundamental rule of debit and credit is, Debit expenses and Losses and Credit. Marks: 2+ 0.5The giver What goes out Income & gains None of the above. The Correct Answer is : Income & gains You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 53. In book-keeping is Capital Account a real account?

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yes no The Correct Answer is : yes You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 54. Where should a withdrawal of cash from business by the proprietor be credited to ? Marks: 2+ 0.5Drawings Proprietor's A/c Capital A/c Cash A/c The Correct Answer is : Cash A/c You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 55. In accordance with the going concern concept in accounting, a business is considered as having an indefinite life. Marks: 2+ 0.5Yes No The Correct Answer is : Yes You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2

56. What is a Nominal Account?

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An account of each person or firm with whom the trader deals An account of each head of expense or source of income An account of each property or possession dealt in by the trader in his business None of these The Correct Answer is : An account of each head of expense or source of income You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 57. What is the fundamental rule of debit and credit with regard to Assets or Real accounts? Marks: 2+ 0.5Debit the receiver and credit the giver Debit what comes in the credit what goes out Debit expenses and losses and credit gains All the above. The Correct Answer is : Debit what comes in the credit what goes out You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 58. How do profits made from normal operations retained in business appear in the balance sheet? Marks: 2+ 0.5Under capital Under capital, reserves & surplus Under cash in hand, at bank None of the above The Correct Answer is : Under capital, reserves & surplus You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 59. Where does the Net Profit appear in the balance sheet?

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Liabilities side Assets side Either (a) or (b) None of these The Correct Answer is : None of these You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 60. In double entry book-keeping, entry is balanced with a corresponding Contra entry Marks: 2+ 0.5Reverse entry Adjusting entry Contra entry Double entry The Correct Answer is : Contra entry You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2

61. The proprietor has separate _________form the business Legal Status Responsibility Authority Existence The Correct Answer is : Existence You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 62. Objective evidence means ___________evidence.

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Historical None Documentary Significant Documentary None of the above. The Correct Answer is : Documentary You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 63. Dual aspect concept means recording of _________effects of a transaction Marks: 2+ 0.5Double Single None Multiple None of the above. The Correct Answer is : Double You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 64. Business transactions are recorded at ___________cost. Present Historical Imaginery Past None of the above. The Correct Answer is : Historical You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 65. ___________ is the common unit of measurement. Capital Asset Money Cash None of the above. The Correct Answer is : Money You did not answer the question. Explanation : undefined

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Module : Module B Chapter : Chapter2 66. The system of recording transactions based on dual aspect concept is called____________. Marks: 2+ 0.5Double entry Revers Entry No Entry Sigle Entry None of the above. The Correct Answer is : Double entry You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 67. Purchased goods on credit from Ramesh Rs. 60,000 Purchase & Cash Purchase & Ramesh Goods & Cash Goods and Ramesh None of the above. The Correct Answer is : Goods and Ramesh You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 68. Paid rent to landlord Rs. 500. Marks: 2+ 0.5Landlord & Cash Rent & Landlord Rent and Cash. Cash & Rent None of the above. The Correct Answer is : Rent and Cash. You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 69. Received interest on Government Securities Rs. 400. Govt. & cash Cash and interest Intrest & Cash Security & Cash None of the above. The Correct Answer is : Cash and interest You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 70. Purchased a typewriter for Rs. 5,000 Marks: Purchase & Cash Typewriter and Cash. Cash & Typewriter Typewriter & Purchase None of the above. The Correct Answer is : Typewriter and Cash. You did not answer the question.

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Explanation : undefined Module : Module B Chapter : Chapter2 71. Proprietor paid Rs. 500 towards tuition fee on his son.

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Expences & Propritor Drawing and Cash. Expences & Cash Cash & Drowing None of the above. The Correct Answer is : Drawing and Cash. You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 72. Capital Rs. 40,000 + Liabilities Rs. 15,000 = Assets Rs. ____________ Rs. 25,000 Rs. 65,000 Rs. 55,000 Rs. 45,000 None of the above. The Correct Answer is : Rs. 55,000 You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 73. Capital Rs. 65,000 + Liabilities Rs____________= Assets Rs.80,000 Rs. 25,000 Rs. 35,000 Rs. 5,000 15,000 None of the above. The Correct Answer is : 15,000 You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 74. Assets Rs. 90,000 - Liabilities Rs. _________= Capital Rs. 50,000. Rs. 1,45,000 40,000 Rs. 60,000 Rs. 25,000 None of the above. The Correct Answer is : 40,000 You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 75. Capital Rs_______+ Liabilities Rs. 20,000 = Assets Rs. 90,000. Rs. 1,10,000 Rs. 1,25,000 70,000 Rs. 60,000 None of the above. The Correct Answer is :

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You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter2 76. What is a Ledger? Marks: 2+ 0.5A book where all transactions relating to a particular account are recorded at one place. A book where only cash transactions are recorded. A book where all business transactions are recorded daily. None of the above. The Correct Answer is : A book where all transactions relating to a particular account are recorded at one place. You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 77. Are only cash sales recorded in Sales Book? Marks: 2+ 0.5Yes No The Correct Answer is : Yes You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 78. The transactions in the bank column on credit side of the Three columnar Cash Book indicates. Marks: 2+ 0.5Amount withdrawn from the bank Amount deposited into the bank Both (a) and (b) given None of the above The Correct Answer is : Amount withdrawn from the bank You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 79. What does three Column cash Book record? Marks: 2+ 0.5Cash transactions only Both cash and bank transaction excluding discounts Both cash and bank transaction including discounts None of the above The Correct Answer is : Both cash and bank transaction including discounts You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 80. a ledger, a book of final entry? Marks: 1+ 0.25Yes no The Correct Answer is : Yes You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3

81. What is a Journal?

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Original entry Double entry Duplicate entry None of the above The Correct Answer is : Original entry You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 82. The credit balance in the Capital Account is a liability or an asset?

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A liability A revenue An expense None of these. The Correct Answer is : A liability You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 83. The amount brought in by the proprietor in the business should be credited to Marks: 2+ 0.5Proprietor's account Drawing account Capital account The Correct Answer is : Capital account You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 84. Wages paid to Raju should be debited to

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Sales return account Customer account Goods account The Correct Answer is : Customer account You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 85. In case of Bad Debt, the amount should be debited to Bad debts account Customer account Discount account The Correct Answer is : Bad debts account You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 86. Loan taken from Mamta should be credited to Mamta account Loan from Mamta Bank account. The Correct Answer is :

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Loan from Mamta

You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 87. The two accounts concerned are _________. Cash & Goods Goods and Cash Cash & Real Real & Nominal None of the above The Correct Answer is : Goods and Cash You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 88. Both the accounts are __________ accounts

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Personal Nominal None of the above. Real None of the above The Correct Answer is : Real You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 89. _____account is debited because _______ come in. Cash, Cash Goods,Goods Real,cash Nominal,Goods None of the above The Correct Answer is : Cash, Cash You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 90. a________ccount is credited because _______ go out. Cash,Cash GoodsGoods Real,cash Nominal,Goods None of the above The Correct Answer is : GoodsGoods You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 91. Motor car account is a _________ account Nominal Personal None of the above. Real None of the above

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The Correct Answer is : Real You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 92. Mukesh account is a _____________account. Nominal Real x None of the above Personal The Correct Answer is : Personal You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 93. Capital account is a _____________account.

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Nominal Real Personal None of the above None of the above The Correct Answer is : Personal You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 94. Amount invested in business by its owner is known as _____________account Marks: 2+ 0.5Expenses Capital Loan Investment None of the above The Correct Answer is : Capital You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 95. Drawings account is a ___________ account.

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Personal Nominal Real All of the above None of the above The Correct Answer is : Personal You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 96. To record the transaction in the journal is called _____________ . Ledgering Book Kiping Maintainig

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Journalising None of the above The Correct Answer is : Journalising You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 97. Journal is a book of ___________.

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Double Entry Singale Entry Contra Entry Simple Entry Original entry The Correct Answer is : Original entry You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 98. Short description of a transaction is called ___________. Narration Being Posting Shotrcut None of the above The Correct Answer is : Narration You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 99. Ledger is the _________ book of accounts. Orignal Principal Double Entry Common Book None of the above The Correct Answer is : Principal You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 100. Every entry must be posted into ________

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Journal Ledger Cashbook Note any book of account None of the above The Correct Answer is : Ledger You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 101. Transferring entries from journal to the ledger is called ________ Posting Journalising

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Legering Transfering None of the above The Correct Answer is : Posting You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 102. The difference between two sides of account is called __________

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Cash Balance Bank Balance Balance Profit None of the above The Correct Answer is : Balance You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 103. A person who owes us something is called a _______ and a person whom we owe something is called a __________Creditor. Marks: 2+ 0.5Lessee,Lesser Creditor,Debtor DebtorsCreditor Belor,Belee None of the above The Correct Answer is : DebtorsCreditor You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 104. The left hand side of an account is called _______ side. Expenditure Receipt Credit None of the above Debit The Correct Answer is : Debit You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 105. The right hand side of an account is called _______said. Expenditure Receipt Debit Credit None of the above The Correct Answer is : Credit You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 106. A debit in nominal account denotes an ______________ .

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Credit Expense Expenditur Receipt None of the above. The Correct Answer is : Expense You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 107. Nominal accounts are transferred to __________ at the end of the year. 0.5-

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Final Account Balance Sheet Sales Account None of the above Profit & Loss Account The Correct Answer is : Profit & Loss Account You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 108. Balances of real accounts and personal accounts are _________to the next period. Marks: 2+ 0.5Carried forward Paid Off All of the above Not Carried Forword None of the above The Correct Answer is : Carried forward You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 109. The debit side of cash book is called _______ said and credit side is called Marks: 2+ 0.5Payment Recept Debit Receipt-payment Payment All of the above The Correct Answer is : Receipt-payment You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 110. Cash column of cash book can never have a _________ balance Debit No Entry All of the above Credit None of the above The Correct Answer is : Credit You did not answer the question. Explanation : undefined

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Module : Module B Chapter : Chapter3 111. The ___________ balance in cash account should always be equal to the cash in the cash box. Marks: 2+ 0.5Opning Receipt Payment Closing All of the above The Correct Answer is : Closing You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 112. Discount allowed by the creditor is recorded on the _________side of cash book. Marks: 2+ 0.5payment Receipt Debit Credit All of the above The Correct Answer is : payment You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 113. In cash of an overdraft, the bank column of cash book will show a _________balance Marks: 2+ 0.5Over Draft Debit Closing Opning Credit The Correct Answer is : Credit You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 114. All expenses are recorded on ________ side of the cash book and all receipts are recorded on ________ side of the cash book. Marks: 2+ 0.5All of the above Debit Credit Recept Payment Credit Debit All of the above The Correct Answer is : Credit Debit You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 115. Petty cash book with multiple columns for small payments is known as _________ petty cash book. Marks: 2+ 0.5Personal Columnar simple

Liner All of the above The Correct Answer is : Columnar You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 116. Petty cash book is generally maintained on __________ system. Bank Cash Hevy Expenses None of the above Imprest The Correct Answer is : Imprest You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 117. Ranjana purchased goods worth Rs. 5,000 form MayurRanjana & Mayur Goods and Mayur Ranjana & sales Purchase & Mayur None of the above The Correct Answer is : Goods and Mayur You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 118. Sudhir sells goods to Ram Rs. 10,000 on credit.Sudhir & Purchase Sales and Sudhir Goods and ram Ram and goods None of the above The Correct Answer is : Ram and goods You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 119. Ranjana pay cash Rs. 5,000 to Mayur -

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Cash and Mayur Ranjana and Mayur None of the above All of the above Mayur and Cash The Correct Answer is : Mayur and Cash You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 120. Balan withdraws Rs. 300 for personal use Cash and Drawings Drawing and cash

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Balan and cash withdrawing and cash All of the above The Correct Answer is : Cash and Drawings You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 121. Telephone charges Rs. 500 paid in cash -

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Nominal ac and cash ac Telephone charges and Cash Cash and Telephone charges. None of the above x The Correct Answer is : Cash and Telephone charges. You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 122. Accounts book where individual records of persons, properties, expenses, etc. are maintained. Marks: 2+ 0.5Junral personal Purchase Ledger None of the above The Correct Answer is : Ledger You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 123. Transferring of an entry from journal to ledger.

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Transfering Posting Jurnalising shifting None of the above The Correct Answer is : Posting You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 124. Total of debit side is greater than credit side of an account. Credit Balance Profit Loss Debit balance None of the above The Correct Answer is : Debit balance You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 125. Total credit side is greater than debit side of an account.

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Debit Balance Profit Loss Credit balance None of the above The Correct Answer is : Credit balance You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 126. Discount which is recorded in the books of account Trade Discount Rebet Bill Diecount None of the above Cash discount The Correct Answer is : None of the above You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 127. Accounts book where transaction are first recorded Journal Ledger Petty Cash Book Sales Book Purchase Book The Correct Answer is : Journal You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 128. Every transaction is recorded first in the Cash Book. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 129. Bank account is a personal account. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 130. Narration is not necessary. Marks: True False The Correct Answer is : False You did not answer the question.

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Explanation : undefined Module : Module B Chapter : Chapter3 131. Journal is a book of Original Entry.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 132. Personal expenses of the Proprietor are debited to Capital Account. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 133. Bank account is a real account.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 134. Balancing of all accounts must be done at the end of each day.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 135. If closing balance appears on the debit side of an account, it is said to have a credit balance. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 136. A business transaction is directly entered into ledger. True False The Correct Answer is : False You did not answer the question. Explanation : undefined

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Module : Module B Chapter : Chapter3 137. Cash account always shows a debit balance True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 138. Cash book is a book of original entry.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 139. A cash book also serves the purpose of a cash account.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 140. Cheques received from the customers are recorded on the credit side of the columnar cash book. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 141. Interest allowed by the bank will be entered n the debit side of the cash book in the cash column. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 142. A bearer cheque received from a customer or paid to a supplier will always be entered in the cash column of the cash book. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined

Module : Module B Chapter : Chapter3 143. Credit sales are recorded on the credit side of the cash book. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module B Chapter : Chapter3 144. Debit balance as per pass book means

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overdraft Debit balance credit balance Bank loan None of the above The Correct Answer is : overdraft You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 145. Normally, the items on debit side of cash book are found on side of pass book. Marks: 2+ 0.5credit debit Post overdraft All of the above The Correct Answer is : credit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 146. Insurance premium paid by bank is debited by bank is pass book.Insurance premium paid by bank is debited by bank is pass book.Insurance premium paid by bank is debited by bank is pass book.Insurance premium paid by bank is debited by bank is pass book.Insurance premium paid by bank is debited by bank is pass book.Insurance premium paid by bank is debited by bank is pass book.Insurance premium paid by bank is by bank is pass book. Marks: 2+ 0.5debited credited Posted Printed All of the above The Correct Answer is : debited You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 147. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. 4. Direct deposit by customer is first recorded in pass book. Direct deposit by customer is first

recorded in

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pass book. Cash book Jurnal book Ledger book None of the above The Correct Answer is : pass book. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 148. Direct deposit by customer is recorded on debit side of cash book.5. Direct deposit by customer is recorded on debit side of cash book.5. Direct deposit by customer is recorded on debit side of cash book.5. Direct deposit by customer is recorded on debit side of cash book.5. Direct deposit by customer is recorded on debit side of cash book.5. Direct deposit by customer is recorded on debit side of cash book.5. Direct deposit by customer is recorded on debit side of cash book.5. Direct deposit by customer is recorded on debit side of cash book.Direct deposit by customer is recorded onside of cash book Marks: 2+ 0.5debit Credit Receipt Payment All of the above The Correct Answer is : debit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 149. Direct deposit by customer the bank balance increases Decrease Both (a) & (b) None of the above The Correct Answer is : increases You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 150. Normally, pass book shows balance.

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credit Debit Receipt Payment None of the above The Correct Answer is : credit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 151. Overdraft as per cash book means balance credit Debit Payment Recept None of the above

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The Correct Answer is : credit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 152. Interest credited by bank is for bank

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expense Income Loan Payment None of the above The Correct Answer is : expense You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 153. Interest credited by bank is ifor account holder.

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ncome Loss Loan Payment None of the above The Correct Answer is : ncome You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 154. Cheque deposited but not cleared is in bank reconciliation statement, when started with overdraft balance in pass book. Marks: 2+ 0.5subtracted added Increse Decrase None of the above The Correct Answer is : subtracted You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 155. Cheque issued but not presented is in bank reconciliation statement, when started with overdraft as per cash book. Marks: 2+ 0.5subtracted Decrase added Increse None of the above The Correct Answer is : subtracted You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 156. Credit side of pass book is known as deposit side.13. Credit side of pass book is known as deposit side.Credit side of pass book is known as t side Marks: 2+ 0.5deposit

Payment Lending Overdrft None of the above The Correct Answer is : deposit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 157. Debit side of pass book is known as side

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withdrawal Lending Overdrft Payment None of the above The Correct Answer is : withdrawal You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 158. When entry is passed on deposit side of pass book, the bank balance increases.When entry is passed on deposit side of pass book, the bank balance Marks: 2+ 0.5increases added Decrase Substrct None of the above The Correct Answer is : increases You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 159. Bank overdraft means a balance in pass

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debit Receipt Payment credit None of the above The Correct Answer is : debit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 160. Undercasting of the credit side of the cash book has the same effect as overcasting of the side of the pass book. Marks: 2+ 0.5debit credit Payment Receipt None of the above The Correct Answer is : debit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

161. represents a copy of customer's account as it appears in the bank's ledger. Marks: 2+ 0.5pass book Jurnal Book Cash Book Personal Book None of the above The Correct Answer is : pass book You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 162. Deposited cheque cleared will be shown on the credit side of pass book.19. Deposited cheque cleared will be shown on the credit side of pass book.Deposited cheque cleared will be shown on the side of pass book. Marks: 2+ 0.5credit debit Receipt Payment None of the above The Correct Answer is : credit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 163. Cheque deposited and dishonoured is recorded on side of cash book credit debit Payment Receipt None of the above The Correct Answer is : credit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 164. Debit balance in the Cash Book means

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overdraft favourable balane neither of the two The Correct Answer is : favourable balane You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 165. Bank Reconciliation Statement is Marks:

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ledger account, part of the Cash Book a Statement showing difference between Cash Book and Pass Book balances The Correct Answer is : a Statement showing difference between Cash Book and Pass Book balances You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

166. Bank Reconciliation Statement is prepared by

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businessmen bank debtor The Correct Answer is : businessmen You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 167. When balance as per Cash Book is the starting point unpresented cheques are Marks: 2+ 0.5added subtracted None of the above The Correct Answer is : added You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 168. When payment side of Cash Book is overcast by Rs. 100 and overdraft as per Pass Book is starting point . Marks: 2+ 0.5Rs. 100 will be added , Rs. 100 will be deducted None of the above The Correct Answer is : Rs. 100 will be added You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 169. Interest on overdraft will appear Marks: in Cash Book in Pass Book None of the above The Correct Answer is : in Cash Book You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 170. Bank Reconciliation Statement is an account

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 171. Bank Reconciliation Statement is also prepared by bank. True False The Correct Answer is : False You did not answer the question. Explanation : undefined

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Module : Module C Chapter : undefined 172. Bank Reconciliation Statement is prepared to show causes of disagreement between two balances. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 173. A credit balance in pass book indicates an excess of deposits over withdrawals. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 174. Bank Reconciliation Statement is prepared by businessmen.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 175. Debit balance as per cash book means credit balance as per pass book. 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 176. Cheque issued to party is recorded n receipt side of cash book. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 177. Interest and dividend collected by bank decreases bank balance. True False The Correct Answer is : False You did not answer the question. Explanation : undefined

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Module : Module C Chapter : undefined 178. Direct deposit by customer increases bank balance.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 179. Direct payments by bank are recorded on withdrawal side of pass book 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 180. Bank charges and commission charged by bank are income of bank True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 181. Cash book and pass book balance never agree.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 182. Entry is recorded on deposit side of pass book for increase in bank balance. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 183. Overcasting the receipt side of cash book increases the bank balance in cash book Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined

Module : Module C Chapter : undefined 184. Usually Bank Reconciliation Statement is prepared at the end of month. 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 185. Preparation of a trial balance helps in locating accounting errors.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 186. If trial balance does not tally, there is no need to open suspense. Account. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 187. Debit balance of ledger account is shown in debit column of the trial balance. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 188. Closing stock appears in the trial balance.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 189. Fixed deposits with bank shows debit balance. True False The Correct Answer is : True You did not answer the question. Explanation : undefined

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Module : Module C Chapter : undefined 190. Final accounts cannot be prepared until trial balance tallies True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 191. Net trial balance is more popular than gross trial blance. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 192. Trial balance is prepared on a separate sheet of paper.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 193. In preparation of a gross trial balance, ledger account balances are extracted. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 194. Deposits given are shown on the debit side of a trial balance. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 195. Trial balance is prepared after preparation of final accounts. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

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196. Purchases are shown on the debit side of a trial balance. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 197. Bank overdraft is shown on the debit side of a trial balance. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 198. Bank overdraft is shown on the debit side of a trial balance. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 199. Balances of ledger accounts are posted to a trial balance.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 200. The statement showing Debit and Credit Balance of Ledger Accounts at the end of the year. Marks: 2+ 0.5Trial balance Balance Sheet Final account Arrears In Trial Balance None of the above The Correct Answer is : Trial balance You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 201. Trial Balance in which the debit and credit total of each ledger account are shown in the two amount columns against the name of the account. Marks: 2+ 0.5Gross trial balance. Net trial balance. Trial balance All of the above The Correct Answer is : Gross trial balance. You did not answer the question.

Explanation : undefined Module : Module C Chapter : undefined 202. Trial Balance in which only balance of each ledger account is shown against its name. Marks: 2+ 0.5Net trial balance. Gross trial balance. Trial balance All of the above The Correct Answer is : Net trial balance. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 203. Abstract or List showing the debit or credit balance of various accounts. 0.5Trial balance Gross trial balance. Net trial balance. All of the above The Correct Answer is : Trial balance You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 204. Name of the account which is opened in the trial balance to tally it. Suspense account. Cash account Nomanal account Personal account None of the above The Correct Answer is : Suspense account. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 205. Trial balance ensures accuracy. Marks: arithmetical systematic Logicale Accounting None of the above The Correct Answer is : arithmetical You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 206. Trial balance is prepared at the end of year accounting Posting Booking All of the above None of the above The Correct Answer is :

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accounting

You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 207. Trial balance is useful for locating .

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errors Cash errors errors in cash payment errors None of the above The Correct Answer is : errors You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 208. If the trial balance does not tally, difference of the trial balance is transferred to Marks: 2+ 0.5suspense a/c. Nominal ac Personal a/c Real a/c None of the above The Correct Answer is : suspense a/c. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 209. Expenses are recorded on n side of a trial balance

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debit credit Payment Receipt None of the above The Correct Answer is : debit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 210. Profit on sale of asset is shown on side of a trial balance

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credit Receipt Payment debit None of the above The Correct Answer is : credit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 211. A statement showing debit and credit balance of ledger account is trial balance. Net Balance Final balance

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balance in trial None of the above The Correct Answer is : trial balance. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 212. A trial balance is prepared as on a particular . date/day day/date time/date day/time None of the above The Correct Answer is : date/day You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 213. A trial balance is a list of accounts ledger Jurnal cash book Subsidary book None of the above The Correct Answer is : ledger You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 214. trial balance is not commonly used.

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Gross Net Full and final balance None of the above The Correct Answer is : Gross You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 215. Balance of liabilities are recorded on side of the trial balance. credit debit Payment Receipt None of the above The Correct Answer is : credit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 216. Wrong balancing of an account will not affect the trial balance True False

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The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 217. Trial balance does not ensure arithmetical accuracy

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 218. Trial balance is prepared at the end of the accounting year.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 219. Payment for purchase of goods - Rs. 20,000 - Revenue Expenditure as; 0.5It is recurring Amount involved is small. The Correct Answer is : It is recurring You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 220. Payment for purchase of car - Rs. 4,00,000 - capital Expenditures as; It is non-recurring Benefit is of long duration Increases earning capacity The Correct Answer is : Benefit is of long duration You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 221. Loss of Goods due to fire Rs. 25,000 - Revenue Expendiute as;

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It is recurring Amount involved is small It is revenue loss arising out of business operation. The Correct Answer is : It is revenue loss arising out of business operation. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 222. Cost of Registration and documentation of a New formed Company Rs. 10,000 -Deferred Revenue Expenses as: Marks: 2+ 0.5It is non-recurring

Benefit is not exhausted in ne year Increases earning capacity of the business. The Correct Answer is : Benefit is not exhausted in ne year You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 223. Wages paid for installation of Machinery Rs.500 - Capital Expenditures as: Marks: 2+ 0.5It is non-recurring It is necessary to put the asset in working condition. It is incidental of acquiring a new asset. The Correct Answer is : It is necessary to put the asset in working condition. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 224. A revenue expenditure of one party may be capital receipt of the other party Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 225. Receipts from sale of machinery is revenue receipt

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 226. The distinction between capital and revenue cannot be definite - it depends upon the facts and circumstances of each case. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 227. Legal charges paid for purchase of land is a capital expenditure but legal chargespaid in the ordinary course of business is a revenue expenditure. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

228. Wages paid in the ordinary course of business is a revenue expenditure but wages paid for erection of machinery is a capital expenditure. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 229. Debenture receipts are revenue receipts

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 230. 1. The inventory valuation is subjective because it depends on the Accounting policies followed by the accountant.The inventory valuation is subjective because it depends on the followed by the accountant Marks: 2+ 0.5Accounting policies Debit Credit Policies Differancees Purchases None of the above The Correct Answer is : Accounting policies You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 231. Historical cost is reduced to net realizable value due to the accounting convention of . Marks: 2+ 0.5Conservatism . Comersion Closing stock Cost in carred None of the above The Correct Answer is : Conservatism . You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 232. Net realizable value is the estimated selling price in the ordinary course of business less costs of and less costs necessary to incur in order or make the Marks: 2+ 0.5Completion , Sale. Conservatism , Purchase Conservatism , sale Sale , Purchase None of the above The Correct Answer is : Completion , Sale. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

233. The ascertainment of stock at the end of the year by physically counting the stock is known as Marks: 2+ 0.5Periodic Inventory Perpectual Inventory Stock Inventory Stock valuation None of the above The Correct Answer is : Periodic Inventory You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 234. The basis of inventory valuation adopted should not be charged frequentlybecause it violates the accounting principal of Marks: 2+ 0.5Consistency Conservatism Comersion Completion None of the above The Correct Answer is : Consistency You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 235. The test of 'objectivity' and 'verifiability' is satisfied by valuing stock at ; 0.5historical price current replacement price net realizable value All of the above The Correct Answer is : historical price You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 236. The ascertainment of value of stock from accounting record is known as; 0.5-

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2+

continuous stock taking periodic inventory perpetual inventory All of the above The Correct Answer is : perpetual inventory You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 237. Historical cost concepts are reduced to net realizable value because of the accounting principle of ; Marks: 2+ 0.5consistency conservatism realisation All of the above The Correct Answer is : conservatism You did not answer the question.

Explanation : undefined Module : Module C Chapter : undefined 238. The cost formulae recommended by Accounting Standard 2 for valuation of inventories are Marks: 2+ 0.5FIFO or Weighted Average Standard Cost. LIFO or latest purchase price. All of the above The Correct Answer is : FIFO or Weighted Average You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 239. In retail business, widely followed method of inventory valuation is; FIFO Weighted Average Adjusted selling price All of the above The Correct Answer is : Adjusted selling price You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 240. A Bill of Exchange is a Negotiable instrument. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 241. A Bill of Exchange need not be dated

Marks:

2+ 0.5-

Marks:

2+ 0.5-

Marks:

1+ 0.25-

True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 242. A Bill of Exchange must be accepted by the drawee. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 243. Drawee is a person to whom the Bill is endorsed. True False The Correct Answer is :

Marks:

2+ 0.5-

Marks:

2+ 0.5-

False

You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 244. Amount of the Bill is paid to the payee

Marks:

2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 245. Drawee after acceptance becomes acceptor True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 246. A Bill of Exchange must be in writing

Marks:

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Marks:

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 247. A Bill of Exchange may be drawn for payment in kind. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 248. Drawee has the right to discount the Bill. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 249. There are three parties to a Bill of Exchange. True False The Correct Answer is : True You did not answer the question. Explanation : undefined

Marks:

2+ 0.5-

Marks:

2+ 0.5-

Marks:

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Module : Module C Chapter : undefined 250. There are tow parties to a promissory Note True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 251. Drawee is the maker of a Bill of Exchange. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 252. Debtor is the maker of a Promissory Note. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 253. A Bill of Exchange is a conditional order.

Marks:

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Marks:

2+ 0.5-

Marks:

2+ 0.5-

Marks:

2+ 0.5-

True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 254. A Bill of Exchange must be properly stamped. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 255. The maker of a Promissory Note must sign it.

Marks:

2+ 0.5-

Marks:

2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 256. Mere acknowledgement of debts is not a promise.

Marks:

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 257. A Bill of Exchange which arises out of trading relationship of two persons is called as a trade Bill. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 258. Acceptance is voluntary for a Bill of Exchange.

Marks:

2+ 0.5-

True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 259. In general acceptance, the drawee agrees with some of the conditions of the bill. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 260. When goods are sold on credit seller becomes a and buyer becomes a . 0.5creditor , debtor debtor , creditor Lesser , Lessee Bellor , Bellee All of the above The Correct Answer is : creditor , debtor You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 261. Negotiable instruments ca be form one person to another transferred Passed Credited Credited Debited None of the above The Correct Answer is : transferred You did not answer the question.

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2+

Marks:

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Explanation : undefined Module : Module C Chapter : undefined 262. draws a bill on .

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Creditor , debtor debtor , creditor Lesser , Lessee Bellor , Bellee None of the above The Correct Answer is : Creditor , debtor You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 263. A Bill of Exchange must be signed by the Drawer Drawee Lessor Lessee None of the above The Correct Answer is : Drawer You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 264. A Bill of Exchange must be properly

Marks:

2+ 0.5-

Marks:

2+ 0.5-

stamped Cheked Signed Accept None of the above The Correct Answer is : stamped You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 265. A Bill of Exchange must be by the drawee accepted Signed Stamed Regected None of the above The Correct Answer is : accepted You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 266. A Bill of Exchange must be in writing Mentally Verbally Printing None of the above The Correct Answer is :

Marks:

2+ 0.5-

Marks:

2+ 0.5-

writing

You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 267. A Bill of Exchange can be discounted with the bank.A Bill of Exchange can be discounted with the Marks: 2+ 0.5bank Drawer Drawee Creditor None of the above The Correct Answer is : bank You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 268. Discount on Bill discounted is an to Bank and an to the Drawer income , expenses expenses , income Profit , Loss Loss , Profit None of the above The Correct Answer is : income , expenses You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 269. There are parties to a Bill of Exchange. three two four five None of the above The Correct Answer is : three You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 270. There areparties to Promissory Note two infinit three four None of the above The Correct Answer is : two You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 271. A Bill of Exchange contains an order unconditional conditional Confidational

Marks:

2+ 0.5-

Marks:

2+ 0.5-

Marks:

2+ 0.5-

Marks:

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Acceptable None of the above The Correct Answer is : unconditional You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 272. is a person who draws a Bill. Marks:

2+ 0.5-

Drawer Drawee Payee Bailor None of the above The Correct Answer is : Drawer You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 273. Drawee is a person on whom a bill is drawn. is a person on whom a bill is drawn Marks: 2+ 0.5Drawee Payee Drawer Bailor None of the above The Correct Answer is : Drawee You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 274. course is a person who is entitled to receive the amount of the bill Holer in due Debtor Creditor Drower None of the above The Correct Answer is : Holer in due You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 275. is a person who gives a promise

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Marks:

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Promisor Promisee Drawer Creditor None of the above The Correct Answer is : Promisor You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 276. is a person in whose favour a promise is given Promisee

Marks:

2+ 0.5-

Promisor Drawer Creditor None of the above The Correct Answer is : Promisee You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 277. A gives promise to a Marks:

2+ 0.5-

debtor , creditor Creditor , debtor Promisor , Promisee Bailor , Bellee None of the above The Correct Answer is : debtor , creditor You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 278. A Bill of exchange contains an order for payment of a certain sum of only. Marks: 2+ 0.5money Cash Bill Note None of the above The Correct Answer is : money You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 279. In acceptance the drawee puts his signature across the face of the bill with or without the work Accepted Marks: 2+ 0.5general Specially Ordinery Specilly None of the above The Correct Answer is : general You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 280. There is no difference in appearance between Trade Bill and Accommodation Bill. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 281. The purpose of Accommodation Bill is to provide temporary finance.

Marks:

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 282. An Accommodation Bill must be supported by R/R. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 283. Both the parties must accept an Accommodation Bill.

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Marks:

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 284. Days of grace are not allowed in case of Accommodation Bill True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 285. An Accommodation Bill must have consideration

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 286. There must be debtor-creditor relationship between the drawer and the drawee of an accommodation bill Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 287. Proceeds of Accommodation Bill are always shared equally by the drawer and the Drawee.Proceeds of Accommodation Bill are always shared equally by the drawer and theDrawee. Marks: 2+ 0.5-

True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 288. The drawer has to bear the amount of discount on accommodation Bill. 0.5-

Marks:

2+

True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 289. The drawer can take legal action against the drawee in case of dishonour of the Accommodation Bill. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 290. Accommodation Bill is drawn and accepted without any consideration 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 291. Both the parties must accept an Accommodation Bill

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Marks:

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 292. The purpose of Accommodation Bill is to satisfy mutual need of funds.The purpose of Accommodation Bill is to satisfy mutual need of funds.The purpose of Accommodation Bill is to satisfy l need of funds Marks: 2+ 0.5mutual Personal Argent General None of the above The Correct Answer is : mutual You did not answer the question. Explanation : undefined

Module : Module C Chapter : undefined 293. An Accommodation Bill is discounted immediately after its acceptance.An Accommodation Bill is discounted immediately after its acceptance.An Accommodation Bill isimmediately after its acceptance Marks: 2+ 0.5discounted Paid off Commission Revenue None of the above The Correct Answer is : discounted You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 294. Proceeds of Accommodation Bill are shared by the parties in in ratio

Marks:

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agreed disagreed acccepted regected None of the above The Correct Answer is : agreed You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 295. Discount in respect of Accommodation Bill is shared by the parties in ratio. Marks: 2+ 0.5sharing equal Partission Partnership None of the above The Correct Answer is : sharing You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 296. Drawer of an Accommodation Bill is not aand drawee is not a creditor , debtor debtor , creditor Promisor , Promisee Bailor , Bellee None of the above The Correct Answer is : creditor , debtor You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 297. Accommodation Bill is drawn without any consideration accommodation. acceptance none consideration None of the above

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Marks:

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The Correct Answer is : consideration You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 298. A bill drawn and accepted for mutual help is called a

Marks:

2+ 0.5-

accommodation. consideration acceptance none consideration All of the above The Correct Answer is : accommodation. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 299. A Bill which is drawn for mutual accommodation of each other. Accommodation Bill consideration Bill acceptance Bill none consideration Bill None of the above The Correct Answer is : Accommodation Bill You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 300. A Bill which has no consideration. Marks:

Marks:

2+ 0.5-

2+ 0.5-

Accommodation Bill acceptance Bill Discounted Bill consideration Bill All of the above The Correct Answer is : Accommodation Bill You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 301. Inability to pay the bills on due date.Inability to pay the bills on due date. Marks: 2+ 0.5Insolvency Baddebts Ccerditor Debtor All of the above The Correct Answer is : Insolvency You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 302. The amount received from the insolvent person's private estate. Dividend. Rebet Intrest

Marks:

2+ 0.5-

Primium All of the above The Correct Answer is : Dividend. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 303. The amount irrecoverable from the insolvent.

Marks:

2+ 0.5-

Bad debt Dividend Intrest Primium All of the above The Correct Answer is : Bad debt You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 304. A consignment account is in the nature of Nominal Account.

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2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 305. The relationship between Consignor and Consignee is that of seller and Buyer. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 306. When goods are sent on consignment, the consignee account is debited 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 307. Account Sale is the sales account in the books of the Consignor. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

Marks:

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Marks:

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308. Del Credere Commission is paid to the Consignee in order to avoid bed debts Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 309. Del Credere Commission is paid to the Consignee in order to avoid bed debts Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 310. Goods dispatched by a manufacturer or wholesaler to an agent for sale are called Marks: 2+ 0.5Consignment. sles sales Invoice Consinnee All of the above The Correct Answer is : Consignment. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 311. The periodical statement received from the Consignee showing therein sale proceeds less expenses, commission, remittances and resultant balance due to Consignor is called an Marks: 2+ 0.5Account sale sales Invoice sles Consinnee None of the above The Correct Answer is : Account sale You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 312. Abnormal loss is credited to Marks: Consignment sles sales Invoice Consinnee None of the above The Correct Answer is : Consignment You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

2+ 0.5-

313. Del Credere Commission is normally calculated on sales Total normal abnormal Semi total All of the above The Correct Answer is : Total You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 314. When goods are sent on consignment debit is given to

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Marks:

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Consignee's Account. Consignment Account Sales Account. None of the above The Correct Answer is : Consignment Account You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 315. The relationship between the Consignor and Consignee is that of a) Principal and Agent.b) Buyer and Seller.c) Debtor & Creditor.The relationship between the Consignor and Consignee is that of Marks: 0.5+ undefinedPrincipal and Agent. Buyer and Seller. Debtor & Creditor. None of the above 1 The Correct Answer is : Buyer and Seller. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 316. A loss which is natural and unavoidable is.

Marks:

2+ 0.5-

abnormal normal contingent All of the above The Correct Answer is : normal You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 317. A loss arising due to pilferage, theft, fire, et. is normal abnormal total None of the above The Correct Answer is : abnormal You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

Marks:

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318. Abnormal loss of stock after adjusting for recovery and insurance claim is transferred to Marks: 2+ 0.5trading account profit & loss account capital account. None of the above The Correct Answer is : profit & loss account You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 319. Consignee's account is a Marks: 1+ 0.25nominal account personal account real account All of the above The Correct Answer is : personal account You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 320. Del Credere Commission is calculated on

Marks:

2+ 0.5-

cash sales credit sales total sales. None of the above The Correct Answer is : total sales. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 321. In joint Venture, the association of persons is of a temporary nature.In joint Venture, the association of persons is of a nature Marks: 2+ 0.5temporary Permenent Long term Short term All of the above The Correct Answer is : temporary You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 322. Joint Venture may also be called as a partnership temporary/restricted Permenent / restricted temporary / Permenent Short term / restricted All of the above The Correct Answer is : temporary/restricted You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

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323. The Co-venturers enter into a with each other.

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contract Venture Trade Relation None of the above The Correct Answer is : contract You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 324. The Co-venturers agree to contribute required to the business.

Marks:

2+ 0.5-

capital Paid up capital none paid capital asset None of the above The Correct Answer is : capital You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 325. The Co-Venturers agree to share profit or Loss arising out of business.The Co-Venturers agree to sharearising out of business Marks: 2+ 0.5profit or Loss Profit Loss No Profit None of the above The Correct Answer is : profit or Loss You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 326. The persons entered into Joint Venture are called co-venturers .The persons entered into Joint Venture are called Marks: 2+ 0.5co-venturers venturers venturers-co None of the above The Correct Answer is : co-venturers You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 327. When Co-venturers decide to maintain a separate set of accounts, they open a with their bank. Marks: 2+ 0.5Joint Bank Permanent Joint account Sepret Bamk All of the above The Correct Answer is : Joint Bank You did not answer the question.

Explanation : undefined Module : Module C Chapter : undefined 328. Joint Venture is not a partnership

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Permanent temporary restricted Short term None of the above The Correct Answer is : Permanent You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 329. A debit balance in Joint Venture account indicates Loss Profit profit or Loss All of the above The Correct Answer is : Loss You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 330. Expenses incurred by co-venturers are debited to Joint Venture Co - Venture Cash Joint Bank None of the above The Correct Answer is : Joint Venture You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 331. The Co-venturers always share the profit equally

Marks:

2+ 0.5-

Marks:

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Marks:

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 332. They are required to share expenses, incurred on the venture.

Marks:

2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 333. Joint Venture comes to an end as soon as the particular venture is over. 0.5-

Marks:

2+

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 334. Joint Venture is a restricted partnership.

Marks:

2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 335. The relation between the Co-venturers is that of Principle and an Agent. 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 336. Liability of the Co-venturers is unlimited. True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 337. Joint Venture is a non-trading concern.

Marks:

2+

Marks:

2+ 0.5-

Marks:

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 338. The owner of the asset is known as___________ Lessor. Lessee. Bellor Bellee None of the above The Correct Answer is : Lessor. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

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339. The user of the asset is known as

Marks:

2+ 0.5-

Lessee. Lessor. Bellor Bellee All of the above The Correct Answer is : Lessee. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 340. The ownership of the asset remains with the

Marks:

2+ 0.5-

Lessor. Lessee. Bellor Bellee None of the above The Correct Answer is : Lessor. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 341. Leasing agreement is usually for a specific period. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 342. Leasing is a tool of tax planning.

Marks:

2+ 0.5-

Marks:

2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 343. Under leasing arrangement, risk of obsolescence is to be borne by the lessee. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 344. Lease rent paid by lessee is not an expense True False The Correct Answer is : False You did not answer the question.

Marks:

2+ 0.5-

Explanation : undefined Module : Module C Chapter : undefined 345. Lessor can claim depreciation on leased assets.

Marks:

2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 346. In an operative lease, period of lease is much less compared to the economic life of the asset. Marks: 1+ 0.25True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 347. In hire purchase transaction, the buyer pays the price in ________

Marks:

2+ 0.5-

Instalment Hire Purchaser Purchaser All of the above The Correct Answer is : Instalment You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 348. In hire purchase, ownership of goods passes to the buyer on payment of_________ instalment Marks: 2+ 0.5Last First Secouned Last None None of the above The Correct Answer is : Last You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 349. The ownership of goods passes to the buyer immediately in__________system Marks: 2+ 0.5Instalment hire Purchase Lease Pre - Instalment None of the above The Correct Answer is : Instalment You did not answer the question. Explanation : undefined

Module : Module C Chapter : undefined 350. The person who purchases goods on hire purchase basis is called ____________ Marks: 2+ 0.5Hire Purchaser Instalment Lease Pre - Instalment All of the above The Correct Answer is : Hire Purchaser You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 351. Organisations not engaged in Trading Activities.

Marks:

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Non-Trading Organisations Trading Organisations Organisations None of the above None of the above The Correct Answer is : Non-Trading Organisations You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 352. Amount given to a non-trading organisation as per the will of the deceased person. Marks: 2+ 0.5Legacy. Lease Rebate Discount All of the above The Correct Answer is : Legacy. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 353. Amount paid to the person who is not employee of the organisation. Donation. Legacy. Lease Discount None of the above The Correct Answer is : Donation. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 354. Amount paid to the person who is not employee of the organisation. Honararium. Donation. Legacy. Discount All of the above The Correct Answer is :

Marks:

2+ 0.5-

Marks:

2+ 0.5-

Honararium.

You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 355. The income & Expenditure account is prepared on the basis of mercantile system of accounting. cash system of accounting hybrid system of accounting. The Correct Answer is : mercantile system of accounting. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 356. Amount received towards Endowment Fund is Marks:

Marks:

2+ 0.5-

2+ 0.5-

revenue receipt capital receipt deferred revenue receipt. The Correct Answer is : capital receipt You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 357. The debit balance in the income & Expenditure Account indicates ]

Marks:

2+ 0.5-

the excess of income over expenditure the excess of expenditure over income. the excess of cash receipts over cash payments. The Correct Answer is : the excess of expenditure over income. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 358. which of the following item should not be entered in the receipts and payments account of a club. Marks: 2+ 0.5ubscriptions received sale of machinery loss on sale of old furniture. The Correct Answer is : loss on sale of old furniture. You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 359. Subscriptions receivable at the beginning and end of the year are Rs. 2000 and Rs. 3000 respectively. Income and Expenditure accounts show subscriptions at Rs. 20000. The amount shown in receipt and payment account under subscriptions account. Marks: 2+ 0.5 Rs. 19000 Rs. 23000 Rs. 22000. The Correct Answer is : Rs. 19000 You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined

360. Depreciation is the part of the__________ cost. Operation None Operation Both (a) & (b) None of the above The Correct Answer is : Operation You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 361. Depreciation is the reduction in the value of

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Marks:

2+ 0.5-

Asset Capital Lability None of the above The Correct Answer is : Asset You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 362. Depreciation is recorded in Debit side of profit and loss account.Depreciation is recorded in______t side of profit and loss account.Depreciation is recorded in Debit side of profit and loss account. Depreciation is recorded in Debit side of profit and loss account. Marks: 2+ 0.5Debit Credit receipt Payment None of the above The Correct Answer is : Debit You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 363. is a fall in the value of an asset.

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2+ 0.5-

Depreciation Appriciation Negative Possitive None of the above The Correct Answer is : Depreciation You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 364. Depreciation is calculated on the diminishing value of the asset in Written Down value Sum of digit methoed Revaluation Methoed Straight Line Methed None of the above The Correct Answer is : Written Down value You did not answer the question. Explanation : undefined

Marks:

2+ 0.5-

Module : Module C Chapter : undefined 365. A fixed percentage of depreciation is charged every year under method 0.5-

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Straight Line Methed Written Down value Revaluation Methoed Sum of digit methoed All of the above The Correct Answer is : Straight Line Methed You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 366. Under _______ method of depreciation, the securities are sold and the proceeds are used for replacement of the asset. Marks: 2+ 0.5Sinking Fund Written Down value Revaluation Methoed Sum of digit methoed All of the above The Correct Answer is : Sinking Fund You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 367. Depreciation is a part of the operating cost. True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 368. Depreciation is to know the correct Profit.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 369. Depreciation is provided to arrive at the profit earned by the business. 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 370. Fall in market price is the main cause of depreciation.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 371. The value of asset will be reduced to zero under the written down value method of depreciation. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 372. The asset being completely written off under Written down Value Method. Marks: 1+ 0.25True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 373. The expenditure on repairs and renewal and deprecuatuin on asset are equal in every year under the straight Line Method of deprecialtion 7. The expenditure on repairs and renewal and depreciation on assets are equal in every year under the Straight line Method of depreciation.7. The expenditure on repairs and renewal and depreciation on assets are equal in every year under the Straight line Method of depreciation.7. The expenditure on repairs and renewal and depreciation on assets are equal in every year under the Straight line Method of depreciation.The expenditure on repairs and renewal and depreciation on assets are equal in every year under the Straight line Method of depreciation. Marks: 2+ 0.5 True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 374. In a lease agreement there are __________ parties.

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Two One Three Four None of the above The Correct Answer is : Two You did not answer the question. Explanation : undefined Module : Module C Chapter : undefined 375. The balance sheet represents an expansion of the equations as:Assets = Liabilities + Capital Marks: 2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 376. Rehman has assets of Rs.10,000 and liabilities of Rs. 5,000. His capital therefore would be Rs. 15000. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 377. Assets will be equal to Capital if there are no liabilities of the business. 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 378. f)If a firm borrows a sum of money, its capital would be reduced True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 379. Assets - Original Capital = Liabilities.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 380. Old firms must have goodwill account in their books of account

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 381. While calculating average profit of previous years, loss incurred in one of those years is to be ignored Marks: 2+ 0.5-

True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 382. The share which the new partner is entitled to is called the Sacrifice ratio. Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 383. Adjustment for goodwill can be made privately by the partners without passing any entries in books of account Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 384. The additional share in the profits by the continuing partners is called Gain Ratio Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 385. The deceased partner cannot be given share in the profit till his death 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 386. Partnership is a separate legal entity.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 387. There should be at least two persons to form a partnership.

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 388. In partnership, profit of the partnership have to be shared by all, though loss may In partnership, profit of the partnership have to be shared by all, though loss may be borne by only one or few partners on Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 389. According to the Indian Partnership Act, there is no maximum limit of partners in the partnership Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 390. If the partnership Deed is silent on certain points, then in such a case, the relevant provisions of the Partnership Act will apply Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 391. is the value of an established business over the above the value represented by its tangible assets. It is also the value attached to the super profit earning capacity of business arising from its wide connections, reputation and long standing in the business. Marks: 2+ 0.5Goodwill Liblities Losses All of the above The Correct Answer is : Goodwill You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 392. of a partner means that a partner breaks off his relations with all other partners and withdraws himself from the firm Marks: 2+ 0.5Admission Submition Permission

Retirement All of the above The Correct Answer is : Admission You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 393. of a partner means joining of a new person into an existing partnership as a partner Marks: undefined+ undefinedRetirement Admission None of the above 1 2 The Correct Answer is : undefined You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 394. Under the capital method. All the transactions are recorded in the capital account only Marks: 2+ 0.5Fluctuating Fixed Normal Abnormal None of the above The Correct Answer is : Fluctuating You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 395. Under the capital method, two accounts are maintained for each partner, vis., Current Account and Capital Account Marks: 2+ 0.5Fixed Fluctuating Normal Abnormal None of the above The Correct Answer is : Fixed You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 396. If the partnership Deed does not mention any method of maintaining capital accounts then the fixed capital Account Method has to be followed Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 397. If the partnership firm is following the Fixed Capital Account Method salary payable to a partner is credited to the partners' current account Marks: 2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 398. Drawings made by partners are never entered in the Profit and Loss Appropriation Account. Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 399. Computerised accounting is a high speed, accurate and error free accounting Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 400. Data stored inside a computer and its processing are easily visible.

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 401. Computer accounting software may be single or multiple use type software Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 402. Computer includes in its meaning computer peripherals also

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 403. Ready-made and tailor-made, both the types of computerized accounting softwares are available in the market. Marks: 2+ 0.5-

True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 404. means accounting performed by a computer

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Computerised accounting accounting Manual accounting None of the above None of the above The Correct Answer is : Computerised accounting You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 405. The set of instructions written by a programmer for a computer is called 0.5computer programmed - software programme software programme programme Hardwer Programme None of the above The Correct Answer is : computer programmed - software programme You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 406. Regular of data is required to guard against loss of data Marks: 2+ 0.5back up Up dating Function Over righting All of the above The Correct Answer is : back up You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 407. Destroy computer data. Marks:

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Computer viruses. Hardwer virus softwer virus None of the above The Correct Answer is : Computer viruses. You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 408. The form of Balance Sheet and Profit and Loss account of a banking company is prescribed in Forms A and B of schedule of the Banking Regulation Act, 1949. Marks: 0.5-

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Third Fourth Fist Secouned All of the above The Correct Answer is : Third You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 409. The various items of assets in the balance sheet are arranged according to order Marks: 2+ 0.5Liquidity Sales Purchase Stock None of the above The Correct Answer is : Liquidity You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 410. of posting is peculiar of banking company accounts Slip system Lime System Rembow system Fiat System All of the above The Correct Answer is : Slip system You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 411. Partnership is a between two or more persons

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Relationship Frienedship Both (a) & (b) None of the above The Correct Answer is : Relationship You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 412. In the Partnership firms, liability of each partner is Limited Overhead Maximum All of the above The Correct Answer is : Limited You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 413. A limited company is an person

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Artificial Original Duplicte None of the above None of the above The Correct Answer is : Artificial You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 414. A company has a perpetual Marks:

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Succession Losses Gaining Both (a) & All of the above The Correct Answer is : Succession You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 415. The is affixed on all important documents and contracts of a company. 0.5Common Seal Registred seal Govt. seal Both (a) & None of the above The Correct Answer is : Common Seal You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 416. Shares are not freely transferable in private limited company

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 417. The maximum number of members is 50 in case of a public company True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 418. Shareholder's liability is limited in a public company True False The Correct Answer is : True You did not answer the question.

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Explanation : undefined Module : Module D Chapter : undefined 419. The minimum number of members to form a partnership firm is 7

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True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 420. Share of a limited company can be classified into equity and Preference .Share of a limited company can be classified into Marks: 2+ 0.5equity and Preference Preference and equity Preference Only All of the above The Correct Answer is : equity and Preference You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 421. Shares enjoy preference as to dividend and repayment of capital over shares Marks: 2+ 0.5Preference Equity Preference Equity Preference Only All of the above The Correct Answer is : Preference Equity You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 422. Capital is the amount with which Company is formed Authorised Subscribed Both (a) & (b) All of the above The Correct Answer is : Authorised You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 423. Capital subscribed by the public is called capital Subscribed Equle Preferance None of the above The Correct Answer is : Subscribed You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined

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424. Paid-up Capital means amount of capital actually paid by

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Shareholders Equity Shareholders Preferance Shareholders All of the above The Correct Answer is : Shareholders You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 425. Share premium amount can be distributed as dividend amongst the shareholders Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 426. In the very first year of working of the company, shares can be issued at discount Marks: 2+ 0.5True False The Correct Answer is : False You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 427. If calls on shares are not received, company can forfeit these shares

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True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 428. The Company Law Board's permission is required for issue of shares at the discount Marks: 2+ 0.5True False The Correct Answer is : True You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 429. Capital Redemption Reserve can be utilized for payment of dividend True False The Correct Answer is : False You did not answer the question. Explanation : undefined

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Module : Module D Chapter : undefined 430. Final accounts of a limited company consist of and

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Profit and Loss account /Balance Sheet. Profit and Loss account Balance Sheet. Treding account The Correct Answer is : Profit and Loss account /Balance Sheet. You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 431. account need not be prepared separately but can be included in Trading / Profit and Loss Account rading Account Profit and Loss Account Balance Sheet. All of the above The Correct Answer is : Trading / Profit and Loss Account You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined 432. of the companies Act prescribes the form of balance sheet. Schedule VI Schedule VIII Schedule VII Schedule V None of the above The Correct Answer is : Schedule VI You did not answer the question. Explanation : undefined Module : Module D Chapter : undefined

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