Lakshya Education MCQs

Question: Any written evidence in support of a business transaction is called
C.Ledger posting
Answer: Option D

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More Questions on This Topic :

Question 1. In Journal, the business transaction is recorded
  1.    Same day
  2.    Next day
  3.    Once in a week
  4.    Once in a month
Answer: Option A
Question 2. Real account records
  1.    Dealings with creditors or debtors
  2.    Dealings in commodities
  3.    Gains and losses
  4.    All of the above
Answer: Option B
Question 3. The account that records expenses, gains and losses is
  1.    Personal account
  2.    Real account
  3.    Nominal account
  4.    None of the above
Answer: Option C
Question 4. The sales income (Credit and Cash) of a business during a given period is called
  1.    Transactions
  2.    Sales Returns
  3.    Turnover
  4.    Purchase Returns
Answer: Option C
Question 5. Patents, Copyrights and Trademarks are
  1.    Current assets
  2.    Fixed assets
  3.    Intangible assets
  4.    Investments
Answer: Option C
Question 6. The debts which are to be repaid within a short period (year or less) are known as
  1.    Current liabilities
  2.    Fixed liabilities
  3.    Contingent liabilities
  4.    All of the above
Answer: Option A

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