I-COM | Part-1

Principal of Accounting

Chapter 1 : Introduction

Intermediate in Commerce | First Year

Multiple Choice Questions

PART-5

Chapter 1 : Introduction

Question 41:

Land and building to start business are called:

Expenses Incomes Capital Assets

Question 42:

Gradual Decrease in the value of fixed assets:

Depreciation Drawing Doubtful Debts None of these

Question 43:

Depreciation is a business:

Asset Liability Revenue Expense

Question 44:

The person who owes money:

A creditor An owner An agent A debtor

Question 45:

Loss of value of assets due to use and wear and tear is called:

Repair Maintenance Valuation Depreciation

Question 46:

Difference between asstes and liabilities is:

Cash Bank Capital None of these

Question 47:

Discount has kinds:

Two Three Four Five

Question 48:

Reward of bearing business risk is called:

Commission Salary Profit Loss

Question 49:

A person from whome goods are purchased on credit:

Debtor Creditor Puchaser Seller

Question 50:

Such fixed assets which do not have physical existence are called:

Tangile Valuable Intangible Security

I-COM | Part-1 | Principal of Accounting | Impotant MCQs | Chapter 01 | Part-5

I-COM | Part-1

Principal of Accounting

Chapter 1 : Introduction

Multiple Choice Questions

PART-5

Chapter 1 : Introduction

Question 41:

Question 42:

Question 43:

Question 44:

Question 45:

Question 46:

Question 47:

Question 48:

Question 49:

Question 50:

Quiz Results

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