Accounting Process
| Description: CPT - 2 | |
| Number of Questions: 35 | |
| Created by: Ashok Pandey | |
| Tags: CPT - 2 Final Accounts Inventories Accounting Process Company Accounts Depreciation Accounting Partnership Accounts Theoretical Framework |
The assets on 31.12.2001 is of Rs. 60, 000 and the capital is of Rs. 45, 000. Its liabilities on that date shall be
Outstanding rent is an example of
Opening capital Rs. 20, 000, closing capital Rs. 10, 000, profit during the year Rs. 5, 000. Additional capital introduced Rs. 1, 000, Drawing will be
Free samples account is
While balancing an account, the balance of an account is recorded on the side which is
Interest received in advance account is
Goods misappropriated by an employee account is
Provision for doubtful debts account is
Goodwill account is
When a firm maintains a double column cash book, it need not maintain
Which account is the odd one out?
Goods costing Rs. 1, 000 (Sale Price Rs. 1, 200) given as charity should be credited to
Received a first and final dividend of 60 paise in the rupee from the official receiver of Mr. Rajan who owned us Rs. 1, 000. The accounting entry for this transaction is
Which is not Contra entry in three column cash book?
Salaries due for the month of March will appear
Journal paper is used to record
When a cheque received on a particular date is not deposited the same day in the bank, it is entered in
Which of the following is not a book of original entry?
Goods sold on credit were returned by a customer and cash was given immediately. These are recorded in
A dishonour of a bill receivable (retained) is recorded in
An allowance of Rs. 25 offered for an early payment of cash of Rs. 975 is to be recorded in
Which of the following information is found in subsidiary ledgers, but not in the general ledger?
Revenue expenditure is defined as
Loss due to devaluation on loan, taken in foreign currency for purchase of a machinery: Rs. 5, 00, 000 is
Rs. 5, 000 spent on the overhaul of machines purchased second hand is
Amount spent for replacement of worm out machine parts machine ___ expenditure.
Expenses incurred on the repairs and white washing for the first time on purchase of an old building are ____ expenditures.
Heavy sales promotion expenses is an example of
What is the rectified entry, when the purchase of machinery is entered in the purchase a/c?
What is 'error of principle'?
A second hand car is purchased for Rs. 1, 00, 000, the amount of Rs. 10, 000 is spent on its repair, Rs. 5, 000 is incurred to get the car registered in owner's name and Rs. 10, 200 is paid as dealer's commission. The amount debited to car account will be
The amount of the dishonoured bill has been wrongly debited to general expenses account, which type of error has been committed?
Which of the following lists the balance and the title of accounts in the ledger on a given date?
Goods purchased from A for Rs. 2000 passed through the sales book. The rectification of this error will result in
A sale of Rs. 20, 000 was wrongly entered in the purchase book. This will