Ledger Test 6

Result

Ledger Test 6

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Weekly Quiz Competition

Question 1
1 / -0

X and Y enters into a Joint venture for sale of antique items, X send goods worth Rs 60000 to Y 3/4 of which were sold by Y for Rs 90000 and remaining were taken over by him at the same gross profit margin at which the goods were sold to the outside customers less 20% discount on such value. Y's A/c will be debited for the goods taken over by Rs ___

A
Rs 30000

B
Rs 24000

C
Rs 19500

D
Rs 20000
Question 2
1 / -0

What would be gross profit from the following information:
Opening stock Rs. 20,000, Purchases Rs. 100000, Wages Rs.11,000,Sales Rs. 150,000, Closing stock 11,000

A
Rs. 30,000

B
Rs. 20,000

C
Rs. 19,000

D
Rs. 41,000
Question 3
1 / -0

Any entry on the debit side of a personal account means

A
Discount given to him

B
Goods or services rendered or payment made to him

C
Goods or services received from

D
Commission gives to him
Question 4
1 / -0

Goods send on sale or return basis would be recognised sales only when

A
When goods are returned

B
When approval is received

C
On 31st March

D
As soon as the goods are sent
Question 5
1 / -0

The term debit has been derived from the ..... word "debere".

A
French

B
Latin

C
English

D
Germany
Question 6
1 / -0

The document listing the latest balances of all the accounts in the ledger on a given date is known as-

A
Trial balance

B
Positional statement

C
Income statement

D
Charter of a/cs
Question 7
1 / -0

suspense A/c is......

A
Nominal A/c

B
Real a/c

C
Personal A/c

D
Can be of any nature
Question 8
1 / -0

Which of the following is a capital expenditure?

A
Cost of a stand by equipment

B
Routine repair and maintenance

C
Overhauling of plant

D
White-wash of office building
Question 9
1 / -0

Which method of inventory valuation give in flated value of closing stock when prices are falling?

A
LIFO

B
FIFO

C
Base price

D
Standard Cost
Question 10
1 / -0

Trade discount is shown in ....

A
Cash book

B
Profit and Loss A/c

C
Purchase day book

D
none

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Re-Attempt Weekly Quiz Competition

Ledger Test 6

Result

Ledger Test 6

Score

-

Rank

-

SHARING IS CARING

Question 1

Rs 30000

Rs 24000

Rs 19500

Rs 20000

Question 2

Rs. 30,000

Rs. 20,000

Rs. 19,000

Rs. 41,000

Question 3

Discount given to him

Goods or services rendered or payment made to him

Goods or services received from

Commission gives to him

Question 4

When goods are returned

When approval is received

On 31st March

As soon as the goods are sent

Question 5

French

Latin

English

Germany

Question 6

Trial balance

Positional statement

Income statement

Charter of a/cs

Question 7

Nominal A/c

Real a/c

Personal A/c

Can be of any nature

Question 8

Cost of a stand by equipment

Routine repair and maintenance

Overhauling of plant

White-wash of office building

Question 9

LIFO

FIFO

Base price

Standard Cost

Question 10

Cash book

Profit and Loss A/c

Purchase day book

none

User

Question Analysis

My Perfomance

Score

-

Rank

-

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