Nepal Rastra Bank Accounting 10 MCQ

Nepal Rastra Bank Accounting MCQ Question 

1) Which of the following equation(s) is(are) true?

A Assets = Liabilities + Capital

B Assets - Capital = Liabilities

C Both (a) and (b)

D None of the above

2)Wages and Salaries is a charge against ?

A Trading Account

B Profit and Loss Account

C Profit and Loss Appropriation Account

D Balance Sheet

3)All credit sales are recorded in?

A Sales Day Book

B Sales Credit Book

C Sales Day Account

D Sales Day Register

4) The life span of a company is dependent on the life span of the

A Owner(s) of the company

B Promoter of the company

C Managing Director of the company

D None of the above

5) Bank Reconciliation statement is prepared to arrive at the Bank Balance.

A True

B False

6) Goodwill is not a fictitious asset.

A True

B False

7)Fixed Assets are stated in the balance sheet at their market value.

A True

B False

8) Sale of Office Furniture should be credited to Sales Account.

A True

B False

9)A part of the profit distributed to the shareholders is known as

A Reserve & Surplus

B Retained Earnings

C Dividend

D Net Profit

10) All indirect expenses are charged against

A Trading Account

B Profit and Loss Account

C Manufacturing Account

D None of the above