Which of the following will affect the agreement of a trial balance?

(a)

Complete omission of a transaction

(b)

Partial omission of a transaction

(c)

Error of principle

(d)

Compensating errors

________means signing on the face or back of a bill for the purpose of transferring the title of the bill to another person.

(a)

Endorsement

(b)

Discounting

(c)

Retiring of bill

(d)

Renewal

Cash book always shows_________.

(a)

debit balance

(b)

credit balance

(c)

nill balance

(d)

credit balance and debit balance

If any amount is directly deposited into the bank then__________.

(a)

Cash book will show less balance & bank book will show more

(b)

Cash book will show more balance & bank book will show less

(c)

Cash book will show double balance

(d)

Bank book will show double

Suspense account is usually closed when ______.

(a)

Accounts are finalised

(b)

After the completion of auditing 

(c)

All the errors are rectified

(d)

None of the above

The normal use of a tangible asset results in physical deterioration which is called _________.

(a)

Wear and tear

(b)

Abnornial factors

(c)

Obsolescence

(d)

Efflux of time

Cost of acquisition of land and building is an example of __________.

(a)

Capital expenditure

(b)

Revenue expenditure

(c)

Capital receipts

(d)

Revenue receipts

These are the assets which get exhausted gradually in the process of excavation.

(a)

Wasting assets

(b)

Nominal assets

(c)

Liquid assets

(d)

Current assets

The value of closing stock shown as adjustment on 31^st March 2016 is 10,000. The adjusting entry is The adjusting entry is

(a)

Closing stock A/c Dr
To Trading A/c

(b)

Trading A/c Dr
To Closing stock A/c

(c)

Closing stock A/c Dr
To Profit and loss A/c

(d)

Profit-and loss Alc Dr
To Closing Stock A/c

Which one is output device?

(a)

Monitor

(b)

Keyboard

(c)

Mouse

(d)

Optical scanner