Originally Posted by Razakhan5

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)
17. . 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)
24. . 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)

Answer these questions too

Batch - 3. June 06, 2016.