Accounting Equation Quiz-1
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Accounting Equation Quiz-1
Quiz
- Purchase of Goods for cash is:-
- Increase in cash and decrease in stock
- Increase in stock and increase in cash
- Decrease in stock and decrease in cash
- Increase in stock and decrease in cash
- Goods destroyed by fire costing ₹1500 selling price ₹2000.
- Increase in stock by ₹2000 and increase in cash by ₹2000
- Decrease in stock by ₹1500 and decrease in capital by ₹1500
- Increase in stock by ₹2000 and increase in stock by ₹2000
- Increase in stock by ₹1500 and decrease in creditor by ₹1500
- Interest on capital provided is-
- Increase in capital and increase in cash
- Decrease in cash and decrease in capital
- Increase in capital and decrease in assets
- Increase in capital as well as decrease in capital
- Goods Given as charity (Sales price ₹500) of ₹450.
- Increase in debtor by ₹500 and increase in stock by ₹500
- Decrease in cash by ₹500 and decrease in stock by ₹450
- Decrease in stock by ₹500 and decrease in capital by ₹500
- Decrease in stock by ₹450 and decrease in capital by ₹450
- Purchase of furniture for cash is:-
- Increase in furniture and increase in cash
- Decrease in furniture and decrease in cash
- Increase in cash and decrease in furniture
- Increase in furniture and decrease in cash
- Rent received in advance of ₹ 2000.
- Increase in cash B ₹2,000 and increase in rent by ₹2000
- Decrease in cash by ₹2,000 and decrease in rent ₹2000
- Increase in cash by ₹ 2000 and increase in liability by ₹ 2000
- Increase in cash by ₹2000 and decrease in creditor by ₹2000
- Repayment of loan by cheque is-
- Decrease in bank and decrease in liabilities
- Decrease in cash and decrease in liabilities
- Increase in asset and increase in creditor
- Increase in bank and decrease in liabilities
- Capital decreased when:-
- Rent received
- Goods purchased
- Goods sold at a loss
- Machinery purchased
- Interest on Drawings-
- Increase in cash and increase in income
- Increase in capital and decrease in cash
- Decrease in capital and increase in capital
- Increase in cash and increase in capital
- Further capital introduced is-
- Increase in income and increase in cash
- Increase in assets and decrease in income
- Increase in cash and increase in capital
- Decrease in cash and decrease in capital
- Cash received from debtor is-
- Increase in stock and increase in capital
- Decrease in stock and decrease in capital
- Decrease in debtor and increase in cash
- Increase in stock and decrease in cash
- Cash paid to creditor-
- Increase in cash and increase in creditor
- Decrease in cash and decrease in creditor
- Increase in cash and increase in capital
- Increase in capital and decrease in cash
- Charged Depreciation on building is-
- Increase in building and increase in capital
- Increase in building and decrease in cash
- Increase in building and increase in cash
- Decrease in building and decrease in
capital
- Rent for the month of March not paid is-
- Increase in liabilities and increase in asset
- Decrease in cash and decrease in
liabilities - Increase in asset and increase in cash
- Increase in liabilities and decrease in capital
- Insurance premium of ₹12,000 paid for one year on 1st August 2022, unexpired insurance premium is on 31st March,2023 will be-
- ₹ 4,000
- ₹ 5,000
- ₹ 6,000
- ₹ 7,000
- Goods returned by customer is-
- Increase in cash and increase in stock
- Decrease in cash and decrease in stock
- Increase in creditor and increase in stock
- Increase in stock and decrease in debtor
- Goods withdrawn for personal use :-
- Increase in stock and increase in capital
- Decrease in stock and decrease in capital
- Increase in stock and increase in cash
- Increase in stock and decrease in cash
- Rent received is-
- Increase in cash and increase in capital
- Increase in cash and decrease in capital
- Increase in capital and decrease in cash
- Increase in liability and increase in cash
- Goods returned to supplier costing ₹1000 and selling Price ₹1100.
- Increase in creditor by ₹1000 and increase in stock by ₹1000
- Decrease in cash by ₹1100 and decrease in stock by ₹1000
- Increase in creditor by ₹1100 and increase in stock by ₹1100
- Decrease in stock by ₹1000 and decrease in creditor by ₹1000
- Capital increased when:-
- Goods Purchased
- Rent paid
- Commission received
- Goods loss by fire
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