511. Account sale is submitted by the?
A. Principal to his agent
B. Debtor to the creditor
C. Consignee
D.Cosignor
E. None of the above

512. In Journal book the consignemt is prepared by ?
A. Consignee
B. Consignor
C. Customer
D. Debtor
E. All of the above

513. The nature of Consignee account is?
A. Real
B. Nominal
C. Personal
D. All of the above
E. None of the Above

514. Where abnormal losses are credited in the book of consignor?
A. Consignee account
B. Trading account
C. Trading profit and loss account
D. Consignment account
E. c and d

515. In ordinary partnership business how many partners are:
A. Not more the 2 partners
B. Not more then 5 partners
C. Not more the 50 partners
D. Not more the 20 partners
E. Any Number of partners

516. Cash in hand statement prepared in?
A. Creditors account
B. Debtors account
C. Cash book
D. a and b
E. All of the above

517. Who cannot maintain a single entry system?
A. Partnership Account
B. Joint stock company
C. Sole-traders
D. All of these
E. a and c

518. how is profit calculated in single entry system?
A. Capital at the end+Drawing-Fresh capital-Opening capital
B.Drawing+Fresh capital-Opening capital-Capital at the end
C. Fresh capital-Drawing-Closing capital-Opening capital
D.None of the above

519. In non-trading account capital funds are equal to?
A.Assets+Expenditures
B. Asset+ Liabilities
C.Asset+Income
D.Asset-Liabilities
E. Asset-Income

520. The Income which is arising from special fund is credited to?
A. Expenditure and Income account
B. General Fund in balance sheet
C. Special Fund in balance sheet
D. a and b
E. None of the above

NOTE
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PLEASE COMMENT WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION IN COMMENT BOX.
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