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COPA
COPA Set-1
Using Accounting Software
12

Using Accounting Software MCQ with Answers

12) What is termed as excess of credit side total amount over debit side total amount in profit and loss account?

Credit

Debit

Loss

Profit

Answer is:

Profit

Using Accounting Software MCQ with Answers

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Related Using Accounting Software MCQ with Answers

13) Which book is used to record transactions relating to return of goods to suppliers?

Purchase Book

Purchase Return Book

Sales Book

Sales Return Book

Answer is:

Purchase Return Book

14) Which is a statement of assets and liabilities?

Balance sheet

Journals

Ledgers

Trial balance

Answer is:

Balance sheet

15) Which accounting system is incomplete and unscientific?

Double Entry System

Single Entry System

Triple Entry System

Multi Entry System

Answer is:

Single Entry System

16) What is the rule for real account?

Debtor the receiver, Creditor the giver

Debtor the giver, Creditor the receiver

Debit comes in, Credit goes out

Debit goes out, Credit comes in

Answer is:

Debit comes in, Credit goes out

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