Accounting Tally & Peach Tree

Accounting Tally & Peach Tree


Note:
● These questions are given only to indicate the nature of questions for the Final Examination.
● The Final examination questions will not be confined to the ones in this question bank
● The ATCs may prepare the Question Paper for the Model examination with the questions from this Question Bank

Part - I Choose the correct answer
(1 Mark each)

1) The valuable things owned by the business are called ..........….....
a) assets 
b) capital 
d) none of these

2) Suppliers  are called .............. Peachtree
a) Customer 
b) Vendor 
c) Creditor

3) Assets which are held for a short period is known as ..............……
a)  current assets 
b) circulating asset 
c) both a&b

4) Recording of transactions in the journal is called ..............
a) Posting
b) Journalizing
c) Balancing

5) Gross profit is the difference between .…..…......
a) Sales and Purchase 
b) Sales and cost of goods sold 
c) Sales and total cost

6) The person who owes money to us are called ................…..
a) Debtor 
b)Creditor 
c)Owner

7) A combination of two or more simple journal entries known as .....…...........
a) compound entry 
b) complex entry 
c) none

8) The short explanation of journal entry is known as ..................
a) note 
b) narration 
c) index

9) The Journal is a book of .........…...... entry
a) prime 
b) original 
c) secondary

10) Purchase of machinery should be debited to .……...…..
a) purchase a/c
b) machaney a/c
c) cash a/c

11) Debit balance of cash book indicates  …..........
a) cash in hand
b) loss
c) none

12) Goodwill is ................ assets
a) tangible
b) intangible
c) current

Location: Kerala, India

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