451. Nominal Account is classified under
A. Personal A/c
B. Impersonal A/c
C. Neither of the two
D. Both a & B

452. Capital account is classified under
A. Personal A/c
B. Real A/c
C. Nominal A/c
D. None of these

453. The Year That begins from Ist of january and ends on 31st of December,is
A. Calendar Year——.
B. Financial year
C. Leap Year
D. None of these

454. Life Insurance Corporation of India in an example of ——-.
A. Norminal A/c
B. Real A/c
C. Representative Personal A/c
D. Artificial Personal A/c

455. Following are tangible assets except:
A. Goods
B. Building
C. Machinery
D. Goodwill

456. The account which recording transaction related to losses and gain are called—-.
A. Real A/c
B. Personal A/c
C. Nominal A/c
D. Tangible A/c

457. The following transactions are recorded in Nominal Account except:
A. Interest
B. Commission
C. Salaries
D. Palants

458. Amount spent in order to produce and sell the goods and services is called——.
A. Expence
B. Sale
C. Revenue
D. Income

459. Sales return means good returned to the supplier due to——.
A. Good quality
B. Defective quality
C. Super quality
D. None of these

460. A written document in support of a transaction is called——.
A. Receipt
B. Credit note
C. Journal
D. Voucher

NOTE
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