Bk quiz

To find out the net profit or net loss of the business ------------- account is prepared.

• trading

• capital

• current

• profit and loss

From financial statement analysis the creditors are specially interested to know ------------------.

• liquidity

• profits

• sale

• share capital

Death is a compulsory ------------------.

• dissolution

• admission

• retirement

• winding up

The due date of the bill drawn for 2 months on 23rd november,2019 will be ----------

• 23rd Jan 2020

• 25th Jan,2019

• 26th Jan,2019

• 25th Jan,2020

Decrease in the value of assets should be --------------to profit and loss adjustment account.

• debited

• credited

• added

• none of these

A statement showing the financial position of the business is called ----------

• Trail balance

• capital

• balance sheet

• trading A/C

The set of programme that directs the computer to perform desired task is -------

• software

• programme

• application

• hardware

The information supplied by financial statements are ---------- in nature.

• universal

• complete

• historical

• none of these

The balance on the capital A/C of retired partner is transferred to his -------------account.

• Executors loan

• Loan

• Wife's loan

• Son's loan

The closing balance of Receipts and payments account usually represents ---------

• closing stock

• cash and bank

• surplus

• deficit