1. Form the following which society is exempted from the payment audit fee : Coir Co-operative Societies
2. The purchase journal contains : Credit purchase of merchandise
3. Which of the following is correct : Capital=Assets-Liabilities
4. Which of the following error will not affect the trial balance : Writing an amount in wrong account but on the correct side
5. Which accounting concept states that every change in resources brings about equal changes in equities : Dual aspect concept
6. On purchase of old furniture, Rs.2000 is spent for its repair should be debited to : Furniture Account
7. Payment of liability result in : Decrease in total asset
8. Which of the following account is a personal account : Rent outstanding account
9.
A’s Trial Balance contains the following information - Bad
debit:Rs.2000/- , Provision for bad debt:Rs.2,500/- , It is desired to
make a provision for bad debt of Rs.3,000 at the end of the year. The
amount to be debited to the profit and loss amount is : 2500/-
10.
B’s Capital on January, 2006:Rs.50,000, Interest on drawing:Rs2,000,
Interest on capital:Rs5,000, Drawings.Rs.20,000, Profit for the
year:Rs.10,000, His capital at December 2006 is : 43,000/-