Collection of account receivable will

Related Mcqs:

1. he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?

   A. 2,10
   B. 10,2
   C. 10,30
   D. 3,15

2. During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?

   A. Rs. 33,000
   B. Rs. 25,000
   C. Rs. 17,000
   D. Rs. 8,000

3. Building account is classified as _________ account?

   A. Nominal
   B. Real
   C. Cash
   D. Capital

4. Office equipments account is classified as _________ account?

   A. Nominal
   B. Real
   C. Cash
   D. Capital

5. An account records the ___________ in the balance of an item?

   A. Increase
   B. Decrease
   C. Increase or decrease
   D. Appreciation

6. If debit balance is greater than creadit balance then the account blance will be__________?

   A. Credit balance
   B. Debit and credit balance
   C. Cash balance
   D. Debit balance

7. The normal balance of capital account is_____________?

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

8. Which of the following is the closing balance of a ledger account?

   A. Balance c/d
   B. Balance b/d
   C. Balance e/d
   D. Balance f/c

9. A journal entry in which two or more account is debited or credited is referred as____________?

   A. Journal entry
   B. Multi entry
   C. Additional entry
   D. Compound entry

10. Depreciation Account appearing in the Trial Balance is shown in:

    A. Profit and Loss A/c
    B. Trading A/c
    C. Deducted from the concerned assets A/c
    D. Shown on the liability side