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