1. The single entry system cannot be adopted by

2. Prepaid expenses are shown under

3. In this method depreciation is charged on the cost of asset every year:

4. From the following information provided, the income from subscription to be shown in the Income and Expenditure A/C for the year ending 31/12/2015 can be calculated at Rs. ______ (i) Subscription received during 2015 : for 2014 – Rs.5,000 for 2015 – Rs.30,000 for 2016 – Rs.6,000 (ii) Subscription received in advance as at 31/12/2014 – Rs.6,000 (iii) Subscription outstanding as at 31/12/2014 – Rs.6,000 (iv) Subscription outstanding as at 31/12/2015 – Rs.4,000

5. Transferability of share is permitted by:

6. If a company has contingent liabilities, they appear in the

7. Interest on fixed deposit received by enterprise is shown in the Cash Flow Statement under

8. Consignee account is in the nature of

9. A few errors committed in Ahhiwalia's books of account are given below. State which errors would affect the Trial Balance. ( a) Sales of `950 to Ram completely omitted from books of account ( b) Purchases of `720 from Shyam entered in the purchases journal as `700 ( c) Purchases Journal is overcast by `1,000 ( d) Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal's account (f) Bank overdraft shown under debit column in the Trial Balance (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq (h) Wages paid for installation of machinery debited to wages account

10. Goods are sent to the Branch at cost plus 25%. The loading on invoice price is:

11. Under _____ system , the hire vendor has a right to take back the goods

12. The process of recording business transaction in a book of original entry is known as-

13. According to this convention, important items must be recorded instead of being left out or merged with other items.

14. Which accounting concept or convention which, in times of rising prices, tends to understate asset values and overstate profits?

15. __________ is similar to the Profit and loss A/c

16. Normally single entry system is suitable for:

17. Which of the following errors affects the agreement of a Trial Balance?

18. How many parties are generally found in a Bill of Exchange

19. Which of the following are characteristics of the company?

20. In order to deal with the re possession the hire vendor operates an account called _______

21. Bank shows the provision for income tax under the head

22. If opening capital is Rs.10,000 & closing capital is Rs.15,000 then profit or loss:

23. Branches may be classified into ________.

24. According to AS-15 (Revise d) superannuation scheme which has relevance only to the final salary and number of years of service is

25. Independent Branch meant when separate account are maintained by: