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All credit sales are recorded in

A. Sales Day Book

B. Sales Credit Book

C. Sales Day Account

D. Sales Day Register

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  1. WDV stands for
  2. E. & O.E.
  3. HUF stands for
  4. Trial Balance is prepared after the preparation of Profit and Loss Account.
  5. The short description of a transaction written at the end of a journal entry is known as _______________.
  6. Choose the odd one out
  7. An expenditure intended to benefit the current period is revenue expenditure.
  8. Goodwill is not a fictitious asset.
  9. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  10. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  11. Copyright is an example of
  12. A part of the profit distributed to the shareholders is known as
  13. An expense incurred to keep the machine in working condition is a capital expenditure.
  14. The account which can never have a credit balance is
  15. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  16. The first step of accountancy is
  17. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
  18. Providing depreciation ensures sufficient cash for asset replacement.
  19. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  20. Sale of Office Furniture should be credited to Sales Account.
  21. Depreciation is not charged on _______________.
  22. Wages and Salaries is a charge against
  23. WIP stands for
  24. Accrual concept implies accounting on cash basis.
  25. Net Realisable Value of an asset means
  26. Any type of error affects the agreement of Trial Balance.
  27. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  28. Which of the following equation(s) is(are) true
  29. Business ventures, which are started for a predefined period, are known as _____________ventures
  30. Which of the following events is not a transaction?