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Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.

A. True

B. False

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  1. The balance in the Cash Book represents net income.
  2. Cash is an example of
  3. According to the Concept of Conservatism, an accountant should
  4. The basic unit of measurement of the accounting system is ______________.
  5. WDV stands for
  6. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  7. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  8. Choose the odd one out
  9. Transfer to General Reserve is a charge against
  10. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  11. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  12. Which of the following equation(s) is(are) true
  13. Cash payments are recorded on the _______________ of the Cash Book.
  14. The life span of a company is dependent on the life span of the
  15. Trial Balance is prepared after the preparation of Profit and Loss Account.
  16. Depreciation is not charged on _______________.
  17. WIP stands for
  18. Which of the following events is not a transaction?
  19. All credit sales are recorded in
  20. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  21. Accrual concept implies accounting on cash basis.
  22. Net Realisable Value of an asset means
  23. All events are transactions but all transactions are not events.
  24. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  25. Business ventures, which are started for a predefined period, are known as _____________ventures
  26. Wages and Salaries is a charge against
  27. Fixed Assets are stated in the balance sheet at their market value.
  28. An expense incurred to keep the machine in working condition is a capital expenditure.
  29. HUF stands for
  30. An expenditure intended to benefit the current period is revenue expenditure.