Answer: Option B. -> Balance sheet
Suspense account given in the trial balance will be entered in the Balance sheet. If the Trial Balance does not agree, the difference is put to Suspense A/c. Suspense A/c on credit side of Trial Balance will be entered on the liabilities side of Balance Sheet. Suspense A/c on debit side of Trial Balance will be entered on the assets side of Balance Sheet.

Answer: Option B. -> Personal account and Real account
Normally the Personal account and Real account are balanced. Only accounts relating to assets and liabilities ,that is real account and personal accounts are balanced periodically.

Answer: Option D. -> An employee dismissed from the job
An employee dismissed from the job is not a transaction. A transaction is an agreement between a buyer and a seller to exchange goods, services or financial instruments.

Answer: Option B. -> Consistency
Consistency principle requires that the same accounting method should be used from one accounting period to the next.

Answer: Option B. -> Maker, Payee
A promissory note is drawn by Maker in favor of Payee. Maker or Drawer is the person who makes or draws the promissory note. He is also called the promisor. Drawee or Payee is the person in whose favour the promissory note is drawn.

Answer: Option A. -> Debit, Credit
The left side of an account is known as Debit and the right side as Credit. Asset accounts such as Cash, Accounts Receivable, Inventory, and Equipment should have debit balances. Liabilities are on the right side of the accounting equation.

Answer: Option A. -> Materiality concept
The cost of a small calculator is treated as an expense and not shown as an asset in a financial statement of a business entity due to Materiality concept. The materiality concept refers to a situation where the financial information of a company is considered to be material from the point of view of the preparation of the financial statements if it has the potential to alter the view or opinion of a reasonable person.

Answer: Option C. -> Bank
Discounting of bill by the drawer is done with Bank. An accepted draft or bill of exchange sold for early payment to a bank or credit institution at less than face value after the bank deducts fees and applicable interest charges.

Answer: Option C. -> Base stock
A minimum quantity of stock always held as precaution against out of stock situation is called Base stock.

Answer: Option C. -> 3
3 days of grace are allowed in case of time bills, for calculating date of maturity. Legal due date of a term/usance bill will be the last day of grace ( maturity date plus three days of grace is the legal due date).