FINANCIAL ACCOUNTING II
Authored by SUHAS NAGALE
Other
University
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40 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
1 . Credit purchases should be ascertained from___________account.
Total Creditors
Total Debtors
Cash
Credit
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
2 . Credit sales should be ascertained from ___________account.
Total Creditors A/c
Total Debtors A/c
Cash
Credit
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
3 . Del credere commission is calculated at a certain percentage on __________
Total sales
Credit sales
Cash sales
Credit purchase
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
4 . ___________is send by consignor to consignee.
Invoice
Proforma invoice
Bill
Account sale
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
5 . Surplus commission is calculated on___________
sale price
invoice price
surplus price realised
purchase price
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
6 . Invoice price is always higher than____________
market price
cost price
book value
proforma invoice
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
7 . Which of the following statement is false?
Discount allowed to customer is recorded in Branch Account.
Loading is a difference between invoice price and cost price.
Goods distributed as free samples should be credited to trading account.
Depreciation on branch fixed assets is not recorded in branch account under Debtor system.
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