The amount payable to a person as consideration for the use of rights vested in him is?
A. Dividend
B. Royalty
C. Purchase consideration
D. Installment
Category: Accounting Mcqs
Drawings by owner of business are generally recorded on which of the following side of a cash book??
A. Receipts
B. Payments
C. Incomes
D. Expenditures
Goodwill A/c is a/an__________??
A. Nominal A/c
B. Tangible Asset
C. Intangible Asset
D. Fictitious Asset
Cash brought by the owner to start business is called__________??
A. Capital
B. Loan
C. Drawing
D. None of these
Identify the asset from the following:?
A. Cash and cash equivalent
B. Creditors
C. Notes payable
D. Bank loan
Credit memo or credit note No. is entered in which of the following journal??
A. General journal
B. Cash journal
C. Purchase journal
D. Sales return day book
In which of the following methods, the cost of the asset is spread over in equal proportion during its useful economic life??
A. Straight-line method
B. Written down value method
C. Units-of-production method
D. Sum-of-the years’-digits method
How many parties are generally found in a Bill of Exchange??
A. 4
B. 2
C. 3
D. 5
