Please answer with proper notes for all questions which are mentioned from A to G

A.Income charge paid by a sole owner on his business pay ought to be:

a)Debited to exchanging account

b)Debited to benefit and misfortune account

c)Deducted from capital record yet to be determined sheet

d)None of the abovementioned

B.All direct and aberrant costs identified with business are charged:

a)Profit and misfortune account

b)Trading account

c)Trading account Profit and Loss account

d)Directly to Balance sheet

C.According to plan VI Companies Act which thing isn't appeared on Asset side of Balance sheet

a)Investment

b)Current Loan and Advances

c)Provision

d)Lease Holds

D.Trade Payables are recorded in... ... .

a)Asset side of B/S

b)Liability side of B/S

c)P and L a/c

d)None of the abovementioned

E.Investment of X organization benefit in portions of other organization PQR Pvt. ltd are recorded in... ... .

a)Asset side of Balance Sheet

b)Liability side of Balance Sheet

c)Profit and Loss a/c

d)Not recorded in Balance Sheet

F.Preliminary costs are recorded in... ... ..

a)Equity and liabilities-Liability side of B/S

b)Current liabilities-Liability side of B/S

c)Fixed resources Asset side of B/S

d)Asset side of B/S

G.Variable expense per unit

a)Remains fixed

b)Fluctuates with volume of creation

H)Varies in thought with the volume of deals

d)None of the abovementioned

46.The books to be mandatorily kept up by an organization are:

I)Cash book and record

b)Sales and buy book

c)Journal

d)Both an and b

e)All of a, b, c above

J.Carriage outward is charged to

a)Debit side Profit and Loss a/c

b)Debit side Trading a/c

c)Credit side of Profit and Loss a/c

d)Credit side of exchanging a/c

K.Cash Purchases:

a)Increases resources

b)Results in no adjustment in the all out resources

c)Decreases resources

d)Increases responsibility

L.Purchases of products using a credit card from An is recorded as:

a)Debit buys a/c; credit money a/c

b)Debit a/c ;credit buys a/c

c)Debit buys a/c ; credit a/c

d)Debit a/c ; credit stock a/c

M.Which of coming up next isn't an illustration of genuine a/c:

a)Machinery

b)Building

c)Cash

d)Creditor