1-If i were-----, i wouldn't tell a lie. (He, his, him)
2------- English literature is my favourite subject (No article, an, a, the)
3-He is older tha------ (I, me, myself, mine)
4-The prime minister gave------ the prizes (Out, in, away, up)
4-the rebels held -----' for a year ( away, Around, AT, OUT) 5-he along his brothers ----- reading books (is, are, wer, have been )
6-A boy is giving ----' bills in the street (Out, away, in,) 7. I ---- studing in this uni for 3 years.. (Am, have , have been, was)
Every morning he --- for walk.. (go, went, goes, have gone) 8..
Error of omission arise?? (Wholly or partially recoreded, incorrectly recorded, forget to record, none of above)
9..The main objective of depreciation..... (To calculate tax, to calculate profit &n loss, to collect amount for replacement of asset, correct valuation of balance sheet)
10..The loss on sale of machinery is to written of from ( depreciation a/c, share premiun a/c, etc)
11..Loss is revenue if (On current assets, due to normal reasons, on fixed assets, none of above)
12..Share premiun a/c is used to ( issue bonus share, write off discount on shares, to raise capital, none of above)
13..Final a/c shows summary of ( assets, liabilities, accounts, none)
14..Income & expenditures a/c reveals ( debit balance, credit, surplus n deficiency, none)
15..Unearned income is ( liability, asset, expense, revenue) 16.
.Receipts n payment a/c include cash items (Capital, revenue, both, none) 1
7..Audit of bank is example of (Statutory audit, balance sheet audit, concurrent audit, all)
18..The interest on capital of partner is credited to ( interest a/c, partners capital a/c, capital a/c)
20..Auditing begins where ---- ends ( Accounting, book keeping, recording) 21..
The discount on issue of debentures being a loss of (Capital, reserves, cash)
22..G.P 5000, N.P=25% of G.P so expenses must be equal to..??
23..Verification involves (Checking vouchers, examination of audit report, both, none) 2
4..Registered capital is (Authorized cap, issued, paid up, none)
25..No entry made against (Authorized cap, issued, paid up, none)
26..Resolution is passed in --- to issue dividend (AGM)
27..Statutory auditor appointed by...??
28..Section authorizing to access branch a/c..??
29..Audit of branches is not allowed in audit of... (Manufacturing co, banks etc)
30..Increase in debtors ( increase casd, dec cash, no impact on cash)
31..Accounting equation??
Auditor is compulsory for (Sole proprietorship, partnership, JSC, all)
32..An enterprise is (Federation, business unit, association, none)
33..Private co... (Must issue prospectus, must issue statement in lieu of prospectus, may issue both, may issue none) 34..Research n development is expense (Capital, revenue, deffered cost revenue, none)
35..Selling expenses are shown in (Profit n loss a/c)
36..The monetary explanation of plan called...(budget)
37..Goods sold by consignee debited to ??
38..The customer Cheque dishonoured recorded in (Cash a/c, bill rec a/c, sales a/c)
39..Preliminary asset is (fictitious assets)
40..Resources invested by owner called...(capital)
41..Auditor must check that salaries not claimed are (Deposit in separate a/c, held safely, kept in reserves) 42..Liability arise upon happening of event called...(contigent liability)
43..If asset= 41315, liabilities= 4120, equity will be???
44..Sales budget prepared keeping in view....(sales forecast of market)
45..Bank o/d is...liability
46..Immediate solvency ratio is (Current, quick, debt.equity)
47..A & b 2 co. Liquidated n new co formed X ltd...it is called...(amalgamation, absorption, etx...)
48..In balnce sheet assets are recorded on --- value...(current, forecasted future, cost)
49..Assets are recorded in balance sheet based on ...(classification)
50..A rebate given on discounting the bill is....??(expense)
51..To chck arithmetical accuracy ---- is prepared. (Journal, ledgers, t.balance, final a/c)
52..Wgich statement prepared first.. (Incm statement, b.sheet, cash flow, funds flow)
53..Closing stock at the end of year is deducted from... (Opening stock, CGS, G.P)


Sorry for spelling and composing mistake.