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Any type of error affects the agreement of Trial Balance.

A. True

B. False

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  1. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  2. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  3. WDV stands for
  4. HUF stands for
  5. Choose the odd one out
  6. Cash payments are recorded on the _______________ of the Cash Book.
  7. Copyright is an example of
  8. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  9. Capital of the business is an example of external liability.
  10. The short description of a transaction written at the end of a journal entry is known as _______________.
  11. According to the Concept of Conservatism, an accountant should
  12. Any type of error affects the agreement of Trial Balance.
  13. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  14. Trial Balance is prepared after the preparation of Profit and Loss Account.
  15. Which of the following events is not a transaction?
  16. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  17. E. & O.E.
  18. The basic unit of measurement of the accounting system is ______________.
  19. Depreciation is not charged on _______________.
  20. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  21. Sale of Office Furniture should be credited to Sales Account.
  22. Goodwill is not a fictitious asset.
  23. Transfer to General Reserve is a charge against
  24. All credit sales are recorded in
  25. Which of the following equation(s) is(are) true
  26. Providing depreciation ensures sufficient cash for asset replacement.
  27. Net Realisable Value of an asset means
  28. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  29. Accrual concept implies accounting on cash basis.
  30. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…