Success Roar Classes

Accountancy Quiz Test

#1. Trade discount is given on credit transactions only.

#2. Furniture purchased by a Trader dealing in Furniture will be treated as ‘purchases’ for him.

#3. Adjusting journal entries are not used to record ——— expenses or unearned revenues.

#4. Books of original entry are called

#5. The amount drawn by businessmen for his personal use is-

#6. Cash is a Fixed Asset of a Business.

#7. The goods invested at the commencement of the business is called closing stock.

#8. Any legal activity performed for earning profit is called.

#9. The head under which transactions pertaining to a person, institution, firm, expenses, assets etc. is recorded is called

#10. The system in which only one aspect of the transaction is recorded is called




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i got 6/10. very nice quiz

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