Tax deducted at source A/c appears in___________?

Related Mcqs:

1. Tax deducted at source appears in the Balance Sheet

   A. On the assets side under current assets
   B. On the assets side under loans and advances
   C. On the liabilities side under current liabilities
   D. On the liabilities side under provisions

2. Which of the following shall not be deducted from net profit while calculating managerial remuneration?

   A. Loss on sale of undertaking
   B. Debts considered bad and written off
   C. Liability arising from a breach of contract
   D. Director‘s remuneration

3. Investment in own share A/c appears in____________?

   A. Asset side
   B. Liability side
   C. Netted from Capital
   D. Profit & Loss A/c

4. If unexpired insurance appears in the Trial Balance, it should be:

   A. Credited to the Profit & Loss Account
   B. Debited to the Profit & Loss Account
   C. Shown on the liabilities side of the Balance Sheet
   D. Shown on the assets side of the Balance Sheet

5. A cash deposit made by business appears on the bank statement as _______ balance?

   A. Debit
   B. Credit
   C. Expenses
   D. Liability

6. Capital of a business decreases if there is an increase in___________?

   A. Drawings
   B. Income
   C. Gains
   D. Fresh capital

7. Capital expenses are shown in___________?

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

8. Revenue receipts are shown in___________?

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

9. A foreign bill of exchange is generally drawn up in___________?

   A. Triplicate
   B. Duplicate
   C. Single
   D. Quadruplicate

10. An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?

    A. Accounting
    B. Accountancy
    C. Auditing
    D. Book Keeping