Quiz Start Time: 05:44 PM / Time Left / 31
sec(s) /
Question # 6 of 20 ( Start time: 05:48:41 PM ) / Total Marks: 1
Find out the missing value of an Accounting Equation with the help of given data: Bank Rs. 22,500 Other assets Rs. 1,000 Creditors Rs. 8, 385 Other liabilities Rs. 9,000 Owner’s equity ?
Select correct option:
/ Rs. 6,115
/ Rs. 31,885
/ Rs. 17,385
/ Rs. 14,115
MC090410137 : Muhammad Soban Badar
Quiz Start Time: 05:44 PM / Time Left / 42
sec(s) /
Question # 7 of 20 ( Start time: 05:50:00 PM ) / Total Marks: 1
In accounting, which of the following account will be credited if the bad debts are recovered in cash?
Select correct option:
/ Cash a/c
/ Bad debt recovered a/c
/ Doubtful debts a/c
/ Provision for bad debts a/c
MC090410137 : Muhammad Soban Badar
Quiz Start Time: 05:44 PM / Time Left / 64
sec(s) /
Question # 8 of 20 ( Start time: 05:51:25 PM ) / Total Marks: 1
Which of the following is (are) NOT shown in balance sheet of sole proprietor?
Select correct option:
/ Fixed assets
/ Current liabilities
/ Profit sharing ratio
/ Long term assets
MC090410137 : Muhammad Soban Badar
Quiz Start Time: 05:44 PM / Time Left / 77
sec(s) /
Question # 9 of 20 ( Start time: 05:52:08 PM ) / Total Marks: 1
Net profit = Gross profit - ______
Select correct option:
/ Operating Expenses
/ Product Cost
/ Deferred Expenses
/ Direct Cost
MC090410137 : Muhammad Soban Badar
Quiz Start Time: 05:44 PM / Time Left / 50
sec(s) /
Question # 10 of 20 ( Start time: 05:52:34 PM ) / Total Marks: 1
In firms cash flow statements, which of the following would appear as a cash inflow?
Select correct option:
/ The repayments of a bank loan
/ The depreciation charge for the current year
/ Money received as result of selling fixed assets
/ The difference between the valuations of old and new fixed assets
MC090410137 : Muhammad Soban Badar
Quiz Start Time: 05:44 PM / Time Left / 39
sec(s) /
Question # 11 of 20 ( Start time: 05:53:56 PM ) / Total Marks: 1
Amount generated from sales in a business is called:
Select correct option:
/ Income
/ Net Income
/ Gross Profit
/ Operating profit
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MC090410137 : Muhammad Soban BadarQuiz Start Time: 05:44 PM / Time Left / 69
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Question # 12 of 20 ( Start time: 05:55:09 PM ) / Total Marks: 1
Money spent to acquire or upgrade physical assets is known as:
Select correct option:
/ Revenue Expense
/ Capital Expense
/ Administrative Expense
/ Operating Expense
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MC090410137 : Muhammad Soban BadarQuiz Start Time: 05:44 PM / Time Left / 28
sec(s) /
Question # 13 of 20 ( Start time: 05:56:05 PM ) / Total Marks: 1
An example of financing activities in the context of cash flow statement is:
Select correct option:
/ Fixed capital expenditure
/ Long-term deposit
/ Financial charges paid
/ Dividend paid
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MC090410137 : Muhammad Soban BadarQuiz Start Time: 05:44 PM / Time Left / 34
sec(s) /
Question # 15 of 20 ( Start time: 05:58:49 PM ) / Total Marks: 1
Fixed Asset (WDV) + ______= Total assets Employed
Select correct option:
/ Total liabilities
/ Total assets
/ Current Assets
/ Working capital
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MC090410137 : Muhammad Soban BadarQuiz Start Time: 05:44 PM / Time Left / 87
sec(s) /
Question # 16 of 20 ( Start time: 05:59:54 PM ) / Total Marks: 1
Which of the following is NOT correct regarding depreciation?
Select correct option:
/ It is another name of Impairment
/ It refers to the increase in value of asset
/ It refers to the end life of an asset
/ All of the given options
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MC090410137 : Muhammad Soban BadarQuiz Start Time: 05:44 PM / Time Left / 88
sec(s) /
Question # 17 of 20 ( Start time: 06:01:18 PM ) / Total Marks: 1
Salaries paid in advance should be shown on the:
Select correct option:
/ Asset side of the Balance Sheet
/ Liability side of the Balance Sheet
/ Credit side of the Trading account
/ All of the given options
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MC090410137 : Muhammad Soban BadarQuiz Start Time: 05:44 PM / Time Left / 82
sec(s) /
Question # 18 of 20 ( Start time: 06:02:28 PM ) / Total Marks: 1
Any expense that gives benefit for a period of less than twelve months is called ______.
Select correct option:
/ Capital Expense
/ Revenue Expense
/ Revenue Receipt
/ Deferred Expense
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MC090410137 : Muhammad Soban BadarQuiz Start Time: 05:44 PM / Time Left / 74
sec(s) /
Question # 19 of 20 ( Start time: 06:03:14 PM ) / Total Marks: 1
Prepaid rent given in the Trial Balance will be treated as a (an):
Select correct option:
/ Asset
/ Liability
/ Revenue
/ Deferred expense
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MC090410137 : Muhammad Soban BadarQuiz Start Time: 05:44 PM / Time Left / 87
sec(s) /
Question # 20 of 20 ( Start time: 06:03:41 PM ) / Total Marks: 1
Consider the following data: Particulars Rs. Assets 99,500 Owner's equity 50,500 Liabilities ?
Select correct option:
/ Rs. 49,000
/ Rs. 55,000
/ Rs. 125,000
/ Rs. 115,700
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