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Accounting Terms/Quiz

1. Crossing of cheque means?
Drawing two parallel lines across the cheque so that it can only be credited to bank account

2. What is Cash Credit?
Credit transaction in which cash is to be paid later

3. If you invest in mutual fund you get the benefit of?
Diversification, Liquidity and Professional Fund Management

4. The acronym 'AUM' stands for?
Assets Under Management

5. Who bears the burden of Service Tax?
Service Seeker

6. Accumulated losses of joint stock company are its?

7. P-E Ratio stands for?
Price-earnings ratio

8. ABC Ltd. has a current account with a nationalised bank. To withdraw cash it has to submit to the bank?