Q1. Direct cost and direct expenses are the same
Q2. Closing balance of the current year in the ledger accounts is the ___ of the next year
Q3. A, B and C are partners sharing profits in the ratio of 1/4 : 3/10 : 9/20. The New ratio on the retirement of C will be
Q4. Which of the following is an example of tertiary sector?
Q5. The systematic process of keeping or maintaining financial records and transactions for a business
Q7. Ledger is called book of original entry.
Q8. Choose the grammatically correct sentence.
Q9. Which of the following are tools of management accounting?A) Decision accountingB) Standard costingC) Budgetary controlD) Human Resources Accounting
Q10. Journal entries of workmens compensation reserve
Q11. Latrina Ramin’s checking account had a balance of $148.52. One day she writes checks for $46.75 to purchaseablanket,$6.25forabook,and $95.00 for a bedspread. What is the new balance in Ramin’s account?
Q12. Book-Keeping is applicable to barter system transaction.
Q13. Principles of management are significant because of:-
Q14. Which one of the following items cannot be recorded in the profit and loss appropriation account?
Q15. This is an example of
Q16. which is the last step of accounting as a process of information
Q17. Qualitative characteristics of accounting includes
Q18. specific order costing Method does not include (more than one option can be selected)
Q19. Cash withdrawn by the proprietor of the business for his personal use causes
Q20. Which of the following BEST describes the term entrepreneur?
Q21. Threats from outsiders are a threat derived from the employee’s activities and actions?
Q22. Drawings A/c Dr To Cash A/cThe journal entry is for recording -
Q23. Rules of debit for real account is
Q24. The rules and regulations which state how accountants operate in a particular place