Amount paid to Masood posted to the credit side of his account would affect___________?

Related Mcqs:

1. If credit side of a bank account is greater than the debit side, it indicates which of the following?

   A. Bank overdraft
   B. Cash at bank
   C. Bank balance
   D. Current Asset

2. If debit side of a bank account is greater than credit side it indicates which of the following?

   A. Cash at bank
   B. Bank understatement
   C. Bank overdraft
   D. Balance overstatement

3. Which of the following account with normal balance is shown at the credit side of a trial balance?

   A. Cash account
   B. Bank account
   C. Equipment account
   D. Accrued expenses account

4. Credit memo or credit note No. is entered in which of the following journal?

   A. General journal
   B. Cash journal
   C. Purchase journal
   D. Sales return day book

5. The periodic total of sales day book is posted to___________?

   A. Sales A/c
   B. Cash sales A/c
   C. Sales return A/c
   D. Credit sales A/c

6. The periodic total of purchase day book is posted to____________?

   A. Purchase register
   B. Purchase A/c
   C. Cash purchase A/c
   D. Credit purchase A/c

7. Building account is classified as _________ account?

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

8. Office equipments account is classified as _________ account?

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

9. Which of the following account with normal balance is shown at the debit side of a trial balance?

   A. Rent income account
   B. Creditors account
   C. Unearned income account
   D. Cash account

10. Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?

    A. Business entity concept
    B. Money measurement concept
    C. Going concern concept
    D. Matching concept