Important Paper Commerce
1. An example of revenue expenditure is..............
A. Purchase of land
B. Salaries
C. Lease
D. Purchase of buildings
Answer : B
2. Bills are drawn by..............
A. Creditors
B. Debtors
C. Agent
D. Brokers
Answer : A
3. Noting charges account is debited by...........
A. The presenter of bill
B. The discounting banker
C. The acceptor
D. The endorser
Answer : A
4. Base date is otherwise called as..........
A. Zero date
B. Leave date
C. Working days
D. Grace days
Answer : A
5. Average due date can be called as...........
A. Mean due date
B. Median due date
C. Mode due date
D. Zero date
Answer : A
6. Account current is a journal is...........
A. True
B. False
C. Partly true
D. Partly false
Answer : B
7. Which one of the following is an example of an intangible asset?
A. Preliminary expenses
B. Discount on issue of debentures
C. Investment
D. Copyrights
Answer : D
8. Both assets and owners equity would be increased by.........
A. Capital brought in
B. Purchase of an asset on credit
C. Payment of creditors
D. Proprietors drawings
Answer : A
9. The excess of current assets over current liability is called............
A. Net tangible worth
B. Net worth
C. Gross working capital
D. Net working capital
Answer : C
10. The discount column of a triple column cash book records............
A. Trade discount
B. Cash discount
C. Quantity discount
D. Seasonal discount
Answer : A
For More Important Paper Commerce - Click Here