(A) USA
(B) Canada
(C) Australia
(D) None of these
The answer is (A) USA
The UN Climate Change Conference was held in November-December 2023 in:
(A) Copenhagen
(B) Bonn
(C) Brussels
(D) Expo City
The answer is (D) Expo City
____________ is the current Chancellor of Germany.
(A) Angela Merkel
(B) Olaf Scholz
(C) Robert Habeck
(D) None of these
The answer is (B) Olaf Scholz
The 2023 Sustainable Development Goals (SDG) Summit took place on 18-19 September 2023 in:
(A) New York
(B) Washington DC
(C) Chicago
(D) None of these
The answer is (A) New York
If it is required to maintain fixed capitals then the partners’ shares of profits must be
(A) Credited to capital accounts
(B) Debited to capital accounts
(C) Debited to partners’ current accounts
(D) Credited to partners’ current accounts
The answer is (D) Credited to partners’ current accounts
If a trial balance totals do not agree, the difference must be entered in
(A) The Profit and Loss Account
(B) A Nominal Account
(C) The Capital Account
(D) A Suspense Account
The answer is (D) A Suspense Account
When a petty cash book is kept there will be
(A) No entries made at all in the general ledger for items paid by petty cash
(B) The same number of entries in the general ledger
(C) Fewer entries made in the general ledger
(D) More entries made in the general ledger
The answer is (C) Fewer entries made in the general ledger
If we take goods for own use we should
(A) Debit Drawings Account, Credit Purchases Account
(B) Debit Drawings Account: Credit Stock Account
(C) Debit Sales Account: Credit Stock Account
(D) Debit Purchases Account: Credit Drawings Account
The answer is (A) Debit Drawings Account, Credit Purchases Account
At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is
(A) Simply deducted from the asset in the Balance Sheet
(B) Transferred to Profit and Loss Account
(C) Transferred to the Asset Account
(D) Transferred to Depreciation Account
The answer is (A) Simply deducted from the asset in the Balance Sheet
Entered in the Purchases Journal are
(A) Discounts received
(B) Purchases invoices
(C) Payments to suppliers
(D) Trade discounts
The answer is (B) Purchases invoices