PGT Commerce Level-3 (HTEТ), Exam 2021Total Questions: 11091. A draws a bill on 25th October, 2021 for 90 days and accepted, the maturity date of the bill will be:A. 27th January, 2022B. 25th January, 2022C. 26th January, 2022D. 23rd January, 2022Correct Answer: B. 25th January, 202292. Which of the following statement is true?A. Amount set apart to meet future losses due to known liabilities, amount of which cannot be determined properly is called provisions.B. Amount set apart to meet future losses due to known liabilities is called reserves.C. Amount set apart to meet future losses due to unknown liabilities is called provisions.D. Secret reserve is shown as separate item in the Balance SheetCorrect Answer: A. Amount set apart to meet future losses due to known liabilities, amount of which cannot be determined properly is called provisions.93. Which method of depreciation is followed to have a uniform charge for depreciation and repairs and maintenance together?A. Reducing balancing methodB. Fixed instalment methodC. Depletion methoрD. Annuity methodCorrect Answer: A. Reducing balancing method94. Trade mark is a______.A. Tangible Real AccountB. Intangible Real AccountC. Representative Personal AccountD. Nominal AccountCorrect Answer: B. Intangible Real Account95. A Company can issue:A. Zero coupon rate debenturesB. Partly convertible debenturesC. Secured debenturesD. All type of debentures as shown in (A), (B) and (C)Correct Answer: D. All type of debentures as shown in (A), (B) and (C)96. Petty Cash Book is maintained for recording_______.A. Petty incomesB. Petty expenses paid in cashC. Petty incomes recerved in cash and petty expenses incurredD. Peety incomes and petty expensesCorrect Answer: B. Petty expenses paid in cash97. Secret reserve can be prepared by:A. Assuming capital expenditure as revenueB. Outstanding expenses not shown in Balance Sheet and Profit & Loss accountC. Overvaluation of liabilitiesD. All these reasonsCorrect Answer: D. All these reasons98. When adjusted purchase is shown on debit column of Trial Balance, then:A. Both opening and closing stock will be shown in the Trial Balance.B. Only closing stock is shown in the Trial Balance.C. Both opening and closing stock will not shown in the Trial Balance.D. Only opening stock is shown in the Trial Balance.Correct Answer: C. Both opening and closing stock will not shown in the Trial Balance.99. A Supporting voucher is______.A. a documentary evidence of business transcations having taken placeВ. secondary voucherC. prepared by an accountantD. a proofCorrect Answer: A. a documentary evidence of business transcations having taken place100. Debit balance as per cash book as on 31st March, 2021 is ₹ 4,000. Cheques deposited but not yet cleared amounted to ₹ 300 and cheques issued but not presented yet of ₹ 200. The bank allowed interest amounting to ₹ 100 and collected dividend ₹ 100 on directly, balance as per pass book should be ______ on that date.A. ₹ 3,300B. ₹ 3,700C. ₹ 4,100D. ₹ 3,900Correct Answer: C. ₹ 4,100Submit Quiz« Previous1234567891011Next »
