Tender is an_____________?

Related Mcqs:

1. When goods, in which business deals are sold, it is called___________?

   A. Purchases
   B. Return inward
   C. Sales
   D. Return outwards

2. If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

   A. Yes
   B. No
   C. Transactions can’t be omitted
   D. none of these

3. Keeping the log of financial information in books of original entries is called__________?

   A. Recording
   B. summarizing
   C. Grouping
   D. Processing

4. The normal balance of capital account is_____________?

   A. Credit balance
   B. Debit balance
   C. Cash balance
   D. Neither debit nor credit balance

5. Depreciation decreases____________?

   A. Liabilities
   B. Cash
   C. Bank
   D. Capital

6. On scrutiny of a firm‘s books of accounts, it was observed that the following errors have occurred in the previous years but have not yet been rectified.

   i. Depreciation for 2011-2012- 7,000 understated
   ii. Accrued expenses as at March 31, 2013 – 10,000 understated
   The impact of this on the reported net income for the year ending March 31, 2013 is

   A. 7,000 Overstated
   B. 10,000 Overstated
   C. 17,000 Understated
   D. 17,000 Overstated

7. Carriage on goods purchased is shown in:___________?

   A. Profit and Loss A/c
   B. Capitalized with work in progress
   C. Trading A/c
   D. Shown in Balance Sheet

8. _________ Checks that are presented to bank but not yet credited by the bank.

   A. Unpresented checks
   B. Uncredited checks
   C. Outstanding checks
   D. Bounced checks

9. A simple or one column cash book usually has which of the following main columns?

   A. Bank
   B. Payments
   C. Discount
   D. Cash

10. Audit fess is a part of__________.

    A. works on cost.
    B. selling overhead.
    C. distribution overhead.
    D. administration overhead

    Submitted by: ALIYA NAWAZ