________________of a firm has to make innumerable routine and strategic decisions while discharging its functions.

(a)

Book-keeping

(b)

Accounts

(c)

Management

(d)

All the above

A person who owns a business is called ___________

(a)

Creditor

(b)

Proprietor

(c)

Debtor

(d)

Solvent

_______________are made for outstanding and prepaid expenses and income.

(a)

Adjustments

(b)

Journals

(c)

Ledger

(d)

Trial balance

Which of the following is a cash transaction __________

(a)

Sold goods

(b)

Sold goods to Ram

(c)

Sold goods to Ram on credit

(d)

Sold goods to Ram on account

The account which has a debit balance and is shown in the debit column of the trial balance is_______

(a)

Sundry creditors account

(b)

Bills payable account

(c)

Drawings account

(d)

Capital account

_____________ is prepared on a specific data.

(a)

Trial Balance

(b)

Journal

(c)

Ledger

(d)

All of the above

Business concerns are always profit motivated and try to increase their _____

(a)

Purchases

(b)

Production

(c)

Sales

(d)

None of these

When a firm maintains a simple cash book, it need not maintain_______.

(a)

Sales account in the ledger

(b)

Purchases account in the ledger

(c)

Capital account in the ledger

(d)

Cash account in the ledger

A transaction not recorded at all is known as an error of _______.

(a)

Principle

(b)

Complete omission

(c)

Partial omission

(d)

Duplication

Interest on bank deposits is ______.

(a)

Capital receipt

(b)

Revenue receipt

(c)

Capital expenditures

(d)

Revenue expenditures