E. & O.E.

A. Errors & Omissions Expected

B. Error & Omission Expected

C. Errors & Omissions Entered

D. Errors & Omissions Excepted

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  1. The aggregate of direct material, direct labour and direct expenses is known as
  2. All credit sales are recorded in
  3. HUF stands for
  4. Business ventures, which are started for a predefined period, are known as _____________ventures
  5. WDV stands for
  6. Wages and Salaries is a charge against
  7. The balance in the Cash Book represents net income.
  8. An expense incurred to keep the machine in working condition is a capital expenditure.
  9. Net Realisable Value of an asset means
  10. The first step of accountancy is
  11. According to the Concept of Conservatism, an accountant should
  12. Which of the following equation(s) is(are) true
  13. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  14. WIP stands for
  15. The basic unit of measurement of the accounting system is ______________.
  16. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  17. The life span of a company is dependent on the life span of the
  18. All events are transactions but all transactions are not events.
  19. Copyright is an example of
  20. Capital of the business is an example of external liability.
  21. Depreciation is not charged on _______________.
  22. Any type of error affects the agreement of Trial Balance.
  23. All indirect expenses are charged against
  24. E. & O.E.
  25. The account which can never have a credit balance is
  26. An expenditure intended to benefit the current period is revenue expenditure.
  27. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  28. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  29. The short description of a transaction written at the end of a journal entry is known as _______________.
  30. Goodwill is not a fictitious asset.