- Profit
- Loss
- Recovery
- Earning
- b
-
Gradually decrease in the value of machinery or asset due to usage in business is called Depreciation.
Senior Auditor (SA)
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How many types of Purchase?
- 4
- 5
- 6
- 7
- a
-
Cash Purchase
Credit Purchase
Purchase Return
Purchase Discount
Any legal activity which is done for earning profit is called:
- Risk
- Business
- Asset
- Drawings
- b
A financial dealing between two person is called:
- Business
- Transaction
- Liability
- None of the above
- b
-
There are two types of transactions which are:
Cash Transaction
Credit Transaction
Which of the following business type has longest life time?
- Sole Proprietorship
- Joint Stock Company
- Partnership
- All of the given options
- b
-
A joint stock company can sale or purchase shares to shareholders easily without hard rules. Shareholders can also transfer shares from one entity to other easily.
Wages are Paid For:
- Long term period
- All of the given options
- Short term period
- None of these
- c
-
Wages and Salaries are Liabilities of Organization / Company.
Double Entry Book-Keeping was fathered by:
- Murphy Smith
- Henry Fayol
- Luca Pacioli
- F.W. Taylor
- c
-
Luca Pacioli published first book on Double Entry System in 1494.
The art of recording, classifying and summarizing in a specific manner is called:
- Accounting
- Liability
- Budgeting
- None of these
- a
A system in which a fixed amount is given to Cashier for the monthly expense is called ……
- Loan
- Imprest System
- Barter System
- Credit System
- b
-
The Imprest is a professional term.
How many types of Interests?
- 02
- 03
- 04
- 05
- a
-
Banks often use 2 types of interests, which are :
Simple Interest
Compound Interest