List of practice Questions

Give any three examples of Capital expenditure.
In single entry system_____are recorded.
Rent from Tenant is shown on the______.
Closing Stock is shown on the_____.
Excess of debit in Profit and Loss Account is called:
Balance Sheet shows:
If capital at the end of the year is Rs. 40,000; Additional Capital introduced during the year Rs. 30,000; drawing for the year Rs. 20,000 and loss for the year is Rs. 60,000, then capital at the beginning of the year was:
Generally, incomplete records are maintained by______.
A bill of exchange consists of:
When Bank Reconciliation Statement is prepared with credit balance as per Pass Book, the balance derived will be:
Gross profit of the firm was Rs. 5,00,000. Which of the following will result in an increase of Net Profit?
Gross profit of the firm was Rs. 1,20,000. There were salary of staff Rs. 50,000 and interest received Rs. 40,000. Net Profit will be
A Pass Book is a copy of
A bank reconciliation statement is -
Credit balance as per Cash Book was Rs. 30,000, cheque deposited Rs. 5,000 were not credited by bank and cheque issued Rs. 7,000 were not presented for payment. What will be the resulting balance as per Bank Statement?
The Bill receivable account is a/an:
A bill dated 1st February, 2023 is payable three months after date. The maturity date of the bill will be:
Which of the following transaction will be added while preparing Bank Reconciliation statement when debit balance as per Cash Book is given?
Statement-I: Bank Reconciliation Statement is prepared annually to reconcile balance as per Cash Book with balance as per Bank Statement. Statement-II: Bank Reconciliation statement is prepared by the bank and also the account holder.
Estimated sale value of an asset after its working life is called:
Depreciation is provided in S.L.M. on cost of:
On 1st September 2022, A Ltd. purchased a machine costing Rs. 8,00,000. Depreciation was to be charged @ 15% p.a. by straight-line method. What amount of depreciation will be charged for the year ending on March 31, 2023?
On 1st April, 2022 S. Ltd. purchased a Truck costing Rs. 16,00,000. Depreciation was to be charged @ 12% p.a. by written down value method. What will be the book value of the Truck on 31st March 2023?
The value of a fixed asset after deducting depreciation from the historical cost is called:
Depreciation will be charged on which of the following?