Revenue receipts are shown in___________?

Related Mcqs:

1. Capital expenses are shown in___________?

   A. Balance Sheet
   B. Profit and Loss A/c
   C. Trading A/c
   D. None of these

2. 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

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. An asset must be _______ by the business to be shown as an asset in its “balance sheet”

   A. Possessed
   B. Owned
   C. Controlled
   D. Used

5. Outstanding salaries is shown as___________?

   A. An Asset in the Balance Sheet
   B. A Liability
   C. By adjusting it in the P & L A/c
   D. Both B. and C. above

6. Insurance prepaid is shown as:___________?

   A. Current Asset
   B. Current Liability
   C. Fixed Asset
   D. Income

7. Closing stock appearing in the Trial Balance is shown in:

   A. Trading A/c and Balance Sheet
   B. Profit and Loss A/c
   C. Balance Sheet only
   D. Trading A/c only

8. 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

9. 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

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