Double- entry book-keeping first emerged in Italy in the ___________ century.

(a)

13^th

(b)

14^th

(c)

18^th

(d)

19^th

Accounting gives information on _________

(a)

The resources available

(b)

how the available resources have been employed

(c)

the results achieved by their use

(d)

All of the above

Book-keeping provides the basis for accounting and it is ______ to accounting process.

(a)

Elementary

(b)

Complementary

(c)

Supplementary

________ is prepared in three copies.

(a)

Debit Note

(b)

Credit Note

(c)

Receipts

(d)

Invoice

Which of the following is correct?

(a)

L=A+C

(b)

L=A-C

(c)

L=C-A

Which of the following trial Balance is contradictory to each other?

(a)

inventory and Drawings

(b)

Sales and Purchases returns

(c)

Carriage inwards and outward

(d)

Trade receivable and  Liability

Trade discount allowed at the time of sale of goods is__________.

(a)

Recorded in Sales Book

(b)

Recorded in Cash Book

(c)

Recorded in Journal

(d)

Not recorded in Books of Accounts

On Jan 1^st 2017, Rs. 1,000 given to petty cashier. He has spent Rs.960during the month of January. On Feb 1^st to make the imprest he will receive cheque for Rs. ________.

(a)

Rs. 1,000

(b)

Rs. 960

(c)

Rs. 1,960

(d)

Rs. 40

Cost of an asset is Rs. 3, 00,000. Rate of depreciation is 10% on WDV method. Value of the asset at the end of the second year will be_____________.

(a)

Rs.2, 70,000

(b)

Rs. 30, 000

(c)

Rs.2, 50,000

(d)

Rs.2, 43,000

Tally package was developed by________

(a)

Tally solutions

(b)

Microsoft

(c)

Apple solutions

(d)

None of the above