1:   Which is correct
Options:
  1. closing stock comes in trail balance
  2. opening stock does not come in trail balance
  3. equal total of both sides of trail balance is a certificate of arithmetic accuracy
  4. closing balance of purchase account is transferred to P&L account

Answer: Option 3

Explanation:

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2:   Entry for outstanding salary 200 Rs.
Options:
  1. Salary a/c Dr. to cash
  2. O/s salary a/c Dr. to cash
  3. salary a/c Dr. to O/s salary a/c
  4. none of the above

Answer: Option 3

Explanation:

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3:   Motive of preparing trail balance is
Options:
  1. to check the arithmetic accuracy of account
  2. to find out economic condition
  3. to check the accounting books in complete and detail nature
  4. to find out assets and liabilities

Answer: Option 3

Explanation:

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4:   Goods sold on credit are recorded in
Options:
  1. cash book
  2. sales book
  3. journal
  4. credit book

Answer: Option 2

Explanation:

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5:   Transaction of return of purchase goods is recorded in
Options:
  1. cash book
  2. purchase book
  3. purchase return book
  4. sales book

Answer: Option 3

Explanation:

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6:   Balance of the real account of ledger is transferred to
Options:
  1. trading account
  2. P & L account
  3. trail balance
  4. none of the above

Answer: Option 2

Explanation:

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7:   Balance of the ledger is to be written in
Options:
  1. correct position
  2. trial balance
  3. P & L account
  4. trading account

Answer: Option 2

Explanation:

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8:   Which of the following is true?
Options:
  1. in journal there is no entry needed of goods on credit
  2. it is easy to find the dealing of one person from journal
  3. journal is prepared in daily routine
  4. furniture is nominal account

Answer: Option 3

Explanation:

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9:   Double entry system was start in
Options:
  1. India
  2. Italy
  3. America
  4. Australia

Answer: Option 2

Explanation:

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10:   Nominal a/c among the following is
Options:
  1. capital a/c
  2. purchase a/c
  3. sales a/c
  4. salary a/c

Answer: Option 4

Explanation:

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