Using Accounting Software Set 3

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Which is the main book of final entry for accounts?

  

    (A) Balance sheet

    (B) Ledger

    (C) Receipts

    (D) Vouchers

Ledger

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What is termed as excess of credit side total amount over debit side total amount in profit and loss account?

  

    (A) Credit

    (B) Debit

    (C) Loss

    (D) Profit

Profit

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Which book is used to record transactions relating to return of goods to suppliers?

  

    (A) Purchase Book

    (B) Purchase Return Book

    (C) Sales Book

    (D) Sales Return Book

Purchase Return Book

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Which is a statement of assets and liabilities?

  

    (A) Balance sheet

    (B) Journals

    (C) Ledgers

    (D) Trial balance

Balance sheet

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Which accounting system is incomplete and unscientific?

  

    (A) Double Entry System

    (B) Single Entry System

    (C) Triple Entry System

    (D) Multi Entry System

Single Entry System

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