Accounting for Managers

421. The statement sent along with purchase return is ______________

1. credit note
2. bills payable book
3. debit note
4. purchases return book

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422. Depreciation is provided on ______________

1. working capita
2. current asset
3. fixed asset
4. intangible assets

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423. An example of revenue expenditure is ______________

1. Purchase of land
2. Salaries
3. Lease
4. Purchase of buildings

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424. At the time of endorsement of a bill, the drawer credits ______________

1. the .drawee
2. endorsees personal account
3. bills receivable account
4. bills for collection account

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425. In accounting the benefit receiving aspect is said to be

1. Debi
2. Credi
3. Debit and Credi
4. none of thes

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426. Summary of all balances is known as

1. Ledge
2. Journa
3. Subsidiary book
4. Trial Balance

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427. The excess of current assets over current liabilities is called ______________.

1. Net tangible worth
2. Networth
3. Gross working capital
4. Net working capital

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428. Bills payable book is a ______________.

1. subsidiar
2. a. principal book
3. a. ledger
4. a. memorandum book

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429. Bank Reconciliation statement is ______________

1. ledger account
2. part of the cash book
3. separate statement
4. a sub division of the journal

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430. The distinction between capital and revenue is necessary for the preparation of ______________.

1. fund flow statement
2. receipts and payment account
3. final accounts
4. cash flow statement

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