Tests of Accounts

he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?

A systematic way to maintain the books of accounts is called_________?

Quick Ratio can be computed as under:

Agriculture income is taxable under the income tax laws of Pakistan:-

Quick ratio can be computed as under:-

The quantitative expressions , of action plan  by the management  of the firm for  a specified  period of time is classified as:-

Which of the following is known as the base for preparing trial balance?

A process of accounting that recognizes the impact of transactions on the financial statements in the time periods when revenues and expenses occur instead of when cash is received or disbursed is called ___ basis

Accounting for intangible assets  are related to ;-

General profitability ratios are based on:-

An auditor is liable for his annual audit of accounts o:

________________ is a source  of government to increase their revenue:-

Which of the following is a real account?

Which of the following accounts will be credited if a company purchases building for cash?

The amount paid by  insured to insurer as a consideration is known as premium:-

Prepaid Insurance A/cis ___ A/c

Every limited Company in Pakistan is required by law to include the following along with financial reports:

In accounting, an economic event is referred to as:

Which books  is prepared to  maintaining  the small  expense like  carriage  postage , entertainment etc:-

An amount of spoilage  that is not  natural  in a specific  production  process is categorized as:-

AS-20 deals with the presentation of  :-

Al-Hudaibiya treaty was signed by:-

In straight line method of depreciation, the written down value of a fixed asset will be at the end of the life of the asset as under:

Liabilities are which of the following?

________ is a separate legal entity that Total capital can be divided in many shares.