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CA Foundation Accounts - All Chapters

CA Foundation - Principles and Practice of Accounting  - All Chapters Consolidated Quiz

1 / 10

In Double Entry System of Book-keeping every business transaction affects:

2 / 10

X sold goods to Y for Rs. 5,00,000. Y paid cash Rs. 4,30,000. X will grant 2% discount on balance, and Y request X to draw a bill for balance, the amount of bill will be:

3 / 10

Amount of Rs. 5,000 spent as lawyers’ fee to defend a suit claiming that the firm’s factory site belonged to the plaintiff’s land is

4 / 10

X draws a bill on Y for Rs. 300,000 on 1.1.2016 for 3 months after sight, date of acceptance is 6.1.2016. Maturity date of the bill will be:

5 / 10

If the equipment account has a balance of Rs. 22,50,000 and the accumulated depreciation account has a balance of  Rs. 14,00,000, the book value of the equipment is

6 / 10

The Sales Book ___________________________

7 / 10

A bill of Rs. 120,000 was discounted by Saras with the banker for Rs. 1,18,800. At maturity, the bill returned dishonoured, noting charges Rs.  200. How much amount will the bank deduct from Saras’s bank balance at the time of such dishonour?

8 / 10

Consider the following data pertaining to Alpha Ltd.:

ParticularsRs.
Cost of machinery purchased on 1st April, 201610,00,000
Installation charges1,00,000
Market value as on 31st March, 201712,00,000

While finalizing the annual accounts, if the company values the machinery at Rs. 12,00,000. Which of the following concepts is violated by the Alpha Ltd.?

9 / 10

Under inflationary trend, which of the methods will show highest value of inventory?

10 / 10

 

S.No.Account headsDebit (Rs.)Credit (Rs.)
1Sales15,000
2Purchases10,000
3Miscellaneous expenses2,500
4Salaries2,500
Total12,50017,500

The difference in trial balance is due to _____________________________

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