Accounting Manager Series-1 November 30, 2020December 27, 2020wefru Quiz Accounting Manager series-1 quiz you are applying for a job / interview / Competitive Exams RBB, SSC, MBA, B.Com, BBA Enterence exams Solving quiz you will prepare yourself.. 2 Created on November 29, 2020 By wefru Manager Series 1 TEST YOUR SKILLS BRODLY 1 / 10 1. Creating Provision against fluctuation in the price of investment is an example of which accounting convention Convention of conservatism Convention of full disclosure Convention of materiality Convention of consistency 2 / 10 2. Return of goods by a customer should be debited to Customers account Sales return account Goods account Purchase account 3 / 10 3. Cash discount allowed to a debtor should be credited to Discount account Customer’s account Sales account Cash account 4 / 10 4. The concept of separate entity is applicable to which of following types of businesses? Sole proprietorship Corporation Partnership All of them 5 / 10 5. Accounting principles are generally based upon: Practicability Subjectivity Convenience in recording None of the above 6 / 10 6. Debit the receiver credit the giver rule for Real a/c Personal a/c Nominal a/c None of these 7 / 10 7. Managerial accounting information is generally prepared for Shareholders Creditors Managers Regulatory agencies 8 / 10 8. True & fair profit and loss a/c of a company know by Preparing trial balance Preparing respective ledger of account Preparing trading a/c Preparing trading & profit & loss a/c 9 / 10 9. Which one of the following items would fall under the definition of a liability Cash Debtor Owner’s equity None of these 10 / 10 10. The basic sequence in the accounting process can best be described as: Transaction, source document, journal entry, ledger account, trial balance. Transaction, source document, journal entry, trial balance, ledger account. Source document, transaction, ledger account, journal entry, trial balance. Transaction, journal entry, source document, ledger account, trial balance. Your score isThe average score is 30% LinkedIn Facebook Twitter VKontakte 0% Restart quiz