11-29-2010, 05:58 PM
Which of the following is not a feature of sole proprietorship business ?
· Easy formation
· Easy dissolution
· Unlimited liability
· Separate Legal entity
Consider the following data: Particulars Rs.Assets 75500 Owner’s equity ? Liabilities 40200
· 35300
· 55000
· 125000
· 115700
In which of the following gross profit is calculated?
· Balance sheet
· Trading Account
· Appropriation Account
· Receipt and payment account
Under straight line method of depreciation
· Amount of depreciation increase every year
· Amount of depreciation remains constant every year
· Amount of depreciation decreases every year
· None of the given options
What should be credited, if salary is paid to Sohail?
· Sohail Account
· Salaries account
· Cash account
· Drawing account
Which of the following is NOT included in journal voucher?
· Name of organization
· Bank receipt number
· Debit amount
· Credit amount
Working capital Rs. 20000, current liabilities Rs. 30000 and fixed assets Rs. 100000; calculate current assets?
· Rs. 10000
· Rs. 50000
· Rs.110000
· Rs.120000
In the cost of goods sold statement, cost of direct material consumed + Direct labor?
· Conversion cost
· Prime cost
· Total factory cost
· Cost of goods manufactured
Franchise rights, goodwill and patents are the examples of:
· Legal assets
· Tangible assets
· Intangible assets
· Current assets
Which one of the following is called book of Primary entry?
· General journal
· General ledger
· Trial balance
· Profit and loss account
The investment of Rs. 10000 made by owner in business will have an effect on which of the following accounts?
· Cash account & capital account
· Cash account & expense account
· Cash account & revenue account
· Capital account & expense account
___________= Gross profit < Operating expenses
· Net profit
· Gross profit
· Net loss
· Gross loss
Partnership means a lawful business owned by at least:
· Two or more persons
· Five or more persons
· Seven or more persons
· Nine or more persons
Any expense that becomes a source of income generation for a long time period is called_________
· Capital expense
· Revenue expense
· Revenue receipt
· Capital receipt
Which of the following particular/s is/are included in receipt voucher?
· Name of the organization
· Bank receipt
· Date
· All of the given option
· Easy formation
· Easy dissolution
· Unlimited liability
· Separate Legal entity
Consider the following data: Particulars Rs.Assets 75500 Owner’s equity ? Liabilities 40200
· 35300
· 55000
· 125000
· 115700
In which of the following gross profit is calculated?
· Balance sheet
· Trading Account
· Appropriation Account
· Receipt and payment account
Under straight line method of depreciation
· Amount of depreciation increase every year
· Amount of depreciation remains constant every year
· Amount of depreciation decreases every year
· None of the given options
What should be credited, if salary is paid to Sohail?
· Sohail Account
· Salaries account
· Cash account
· Drawing account
Which of the following is NOT included in journal voucher?
· Name of organization
· Bank receipt number
· Debit amount
· Credit amount
Working capital Rs. 20000, current liabilities Rs. 30000 and fixed assets Rs. 100000; calculate current assets?
· Rs. 10000
· Rs. 50000
· Rs.110000
· Rs.120000
In the cost of goods sold statement, cost of direct material consumed + Direct labor?
· Conversion cost
· Prime cost
· Total factory cost
· Cost of goods manufactured
Franchise rights, goodwill and patents are the examples of:
· Legal assets
· Tangible assets
· Intangible assets
· Current assets
Which one of the following is called book of Primary entry?
· General journal
· General ledger
· Trial balance
· Profit and loss account
The investment of Rs. 10000 made by owner in business will have an effect on which of the following accounts?
· Cash account & capital account
· Cash account & expense account
· Cash account & revenue account
· Capital account & expense account
___________= Gross profit < Operating expenses
· Net profit
· Gross profit
· Net loss
· Gross loss
Partnership means a lawful business owned by at least:
· Two or more persons
· Five or more persons
· Seven or more persons
· Nine or more persons
Any expense that becomes a source of income generation for a long time period is called_________
· Capital expense
· Revenue expense
· Revenue receipt
· Capital receipt
Which of the following particular/s is/are included in receipt voucher?
· Name of the organization
· Bank receipt
· Date
· All of the given option