Question Paper Commerce
1. Overcasting purchases journal would affect ..............
A. Sales account
B. Purchase account
C. Suppliers account
D. Sales returns account
Answer : B
2. Purchases made on credit not recorded at all would affect........
A. Purchases account
B. Suppliers account
C. Purchases account and suppliers account
D. Wages account
Answer : C
3. Purchase journal is kept to record................
A. Cash sales
B. Credit sales of assets
C. Credit sales of goods
D. Credit purchases
Answer : C
4. A credit sale of goods to Shiva should be debited to..........
A. Sales account
B. Goods account
C. Shiva account
D. Purchase account
Answer : C
5. The preparation of a Trial balance helps in..............
A. Locating errors in principle
B. Locating errors of omission
C. Locating clerical errors
D. Locating compensatory errors
Answer : C
6. Insurance unexposed account is a.............
A. Real account
B. Personal account
C. Nominal account
D. Representative account
Answer : A
7. Purchase for office furniture on account is recorded in............
A. General journal
B. Cash book
C. Purchases book
D. Sales book
Answer : A
8. Any donation received for a specific purpose is a.............
A. Liability
B. Assets
C. Revenue receipt
D. Capital receipt
Answer : D
9. Which one of the following is capital expenditure?
A. Cost of advertisement
B. Purchase of a delivery van
C. Purchase of raw material
D. Purchase of machine oil
Answer : B
10. Expenditure incurred on research is an example of..............
A. Capital expenditure
B. Revenue expenditure
C. Deferred revenue expenditure
D. Partly capital expenditure
Answer : C
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