Quiz

Question: Documentary evidence, in a specific format used to record the details of a transaction is known as
Options:
A.Account
B.Voucher
C.Journal
D.Ledger
Answer: Option B

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More Questions on This Topic :

Question 1. Cost incurred for the maintenance of shop is considered as
  1.    Deffered expense
  2.    Capital expenditure
  3.    Revenue expenditure
  4.    Preliminary expense
Answer: Option C
Question 2. Double entry accounting system includes
  1.    Accrual accounting only
  2.    Cash accounting only
  3.    Both cash and accrual accounting
  4.    None of the above
Answer: Option C
Question 3. Which of the following financial statements show the financial health of an organisation at a stated point of time?
  1.    Balance sheet
  2.    Trading and Profit & Loss account
  3.    Cash flow statement
  4.    Statement of retained earnings
Answer: Option A
Question 4. Which of the following account will be credited when the goods are purchased on credit from Mr. Ali?
  1.    Purchases account
  2.    Mr. Ali account
  3.    Cash account
  4.    Sales account
Answer: Option B
Question 5. An informal accounting statement that lists the ledger account balances at a point of time and compares the total of debit balances with the total of credit balances is known as
  1.    Income statement
  2.    Balance sheet
  3.    Trial balance
  4.    Cash Book
Answer: Option C
Question 6. Which of the following account will be credited when the goods are purchased on cash?
  1.    Stock account
  2.    Cash account
  3.    Supplier account
  4.    Work in progress account
Answer: Option B

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