Most Important & Most Repeated MCQs

The maintenance of accounts in a systematic way is called:

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No Comments
  • Accounting
  • Book Keeping
  • Reading
  • Auditing
  • b
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Which of the following accounts is not an account that normally has a credit balance?

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  • Owner’s Equity
  • Experience
  • Revenue
  • Liability
  • c
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Tender is a:

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  • Estimation of Selling Price
  • Estimation of Profit
  • Estimation of Units
  • Estimation of Cost
  • a
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The Partnership Act was passed on:

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  • 6th April 1932
  • 4th April 1932
  • 8th April 1932
  • 5th April 1932
  • c
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The main source of revenue of federal government is:

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  • Sales Tax
  • Token Tax
  • Property Tax
  • Custom Duties
  • c
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The difference between country’s merchandise exports , merchandise imports is the:

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  • Current Account
  • Balance of Trade
  • Balance of Payment
  • Capital Account
  • b
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In……the owner is personally liable for loss and profit.

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  • Public Limited Company
  • Sole Proprietorship
  • Financial Statement
  • Private Limited Company
  • b
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Ledger is a book of:

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  • Book of Original Entries
  • Book of Final Entries
  • Book of Component Entries
  • None of these
  • a
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GDP stands for:

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  • Gross Done Product
  • Gross Domestic Price
  • Gross Domestic Product
  • General Domestic Product
  • c
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The stage under which the transactions of the same or similar nature are classified and recorded separately is known as:

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No Comments
  • Interpretation
  • Classifying
  • Recording
  • None of the above
  • b
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