Financial Accounting 2 MCQs

A

Admin • 32.61K Points
Instructor I

Q 161. Interest earned is a

(A) personal account
(B) real account
(C) nominal account
(D) representative personal account

V

Vinay • 24.32K Points
Instructor III

Q 162. Outstanding salary account is a

(A) natural personal account
(B) artificial personal account
(C) representative personal account
(D) real account

V

Vinay • 24.32K Points
Instructor III

Q 163. Co-operative societies is an example of

(A) personal account
(B) real account
(C) nominal account
(D) representative personal account

S

Shiva Ram • 26.21K Points
Instructor II

Q 164. While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as

(A) business entity concept
(B) conservatism
(C) cost concept
(D) money measurement concept

R

Ranjeet • 30.27K Points
Instructor I

Q 165. Dividing the expenditure into capital and revenue is according to

(A) business entity concept
(B) going concern concept
(C) money measurement concept
(D) accounting period concept

P

Praveen Singh • 32.12K Points
Instructor I

Q 166. All the transactions measurable in the terms of money are recorded in accounts is according to

(A) business entity concept
(B) going concern concept
(C) money measurement concept
(D) accounting period concept

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