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Accounting
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Q2621

A bill of exchange is drawn by a:

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Q2622

Profit as per accounts from incomplete records may constructed as equivalent of:

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Q2623

Depreciation is provided on:

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Q2624

Sales to Benson Rs. 500 posted to his account as Rs. 50 would affect . . . . . . . .

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Q2625

The assets of a business can be classified as . . . . . . . .

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Q2626

A gross profit is transferred to the . . . . . . . . side of the profit and loss account.

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Q2627

If the rate of gross profit is 25% on cost by goods sold and the sales are Rs. 200000, the amount of profit will be . . . . . . . .

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Q2628

The short-term advances made by a bank to the stock brokers and bill brokers are called . . . . . . . .

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Q2629

Match List-I (financial statements and accounts) with List-II (special matters associated with statements and accounts) and select the correct answer using the options given below the lists:

List-I	List-II
a. Receipts and payments	1. Revenue account
b. Income and expenditure account	2. Cash
c. Dividend equalisation reserve	3. Liability
d. Club subscription received in advance account	4. Balance sheet
	5. General reserve

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Q2630

Assets acquired by a bank in satisfaction of a claim are known as . . . . . . . .

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Q2631

Which of the following item/items will be included in income and expenditure account?
I. Accrued expenses
II. Credit purchases
III. Prepaid expenses
IV. Opening cash balance
Select the correct answer from the options given below and mark your answer sheet accordingly.

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Q2632

The following are the figures relating to a trader:
Opening stock - Rs. 10,000
Closing stock - Rs. 11,000
Purchase - Rs. 70,000
The goods are sold at a profit of 30% on cost. The amount of sales will be:

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Q2633

Subscription in arrears (given in adjustment) is shown on the . . . . . . . .

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Q2634

Revenue receipts are . . . . . . . . in the business.

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Q2635

The written down value of a plant is 6,000 (the original value being Rs. 10,000). It is sold for Rs. 12,000 during the current financial year. Which one of the following is true in this regard?

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Q2636

A company pays dividend out of:

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Q2637

The income and expenditure account is prepared on the basis of . . . . . . . . system of accounting.

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Q2638

Jay account is:

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Q2639

Given the following data extracted from the book of Abdul traders:
Opening stock = Rs. 30,000
Closing stock = Rs. 40,000
Purchases = Rs. 1,25,000
Carriage inwards = Rs. 2,000
Carriage outwards = Rs. 3,000
Return outwards = Rs. 5,000
Sales = Rs. 1,50,000
The cost of goods sold will be

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Q2640

Valuation balance sheet is prepared by a life insurance company to find out:

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