Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2007 M.B.A Financial and Management Accounting - exam paper

c. a part of balance sheet d. a part of profit & loss a/c

Q16.The weekly or monthly total of the purchase book is
a. posted to the debit of the purchase a/c b. posted to the debit of the sales a/c
c. posted to the credit of the purchase a/c d. none

Q17.The total of sales book is posted to
a. The credit of sales a/c b. credit of the purchase a/c
c. credit of the capital a/c d. none

Q18.Rs 2,000 paid as wages for erecting a machine should be debited to
a. wages a/c b. machinery a/c
c. capital a/c d.none

Q19. On purchase of old furniture the amount of Rs 1,000 spent on its repair should be debited to
a. Repair a/c b.furniture a/c
c. cash a/c d.none

Q20.Goods worth Rs 50 provided as charity should be credited to
a. charity a/c b. sales a/c
c. purchase a/c d.none

Q21.Goods worth Rs1,000 destroyed by fire should be credited to
a. Goods lost by fire a/c b. purchase a/c
c. sales a/c d. none

Q22.Error of omission do not permit
a. accurate totalling of the balance sheet b.correct totaling of the trial balance
c. The trial balance to agree d. none

Q23 The prepration of a trial balance helps in
a. accurate totaling of the balance sheet b. accurate totaling of the trial balance
c.Locating errors of principles d. none

Q24 Rs 200 received from smith whose account was previously written off as bad debt should be credited to
a. The debt recovery account b. Smith’s a/c
c. cash a/c d.none

Q25.Purchase of office furniture worth Rs 1200 has been debited to general expence a/c .It is
a.A clearical fault b.An fault in principles
c.An erropr in omission d. none

Q26 Sale of office furniture should be credited to
a. Sales a/c b. office furniture
c. cash a/c d. none

Q27 Sale of old news paper should be credited to
a.Sales a/c b. cash a/c

Earning:   Approval pending.