HUF stands for
Hindu United Family
HIndi Undivided Family
Hindu Undivided Family
Hindu Uniform Family
Correct Answer :
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Fixed Assets are stated in the balance sheet at their market value.
All credit sales are recorded in
Contingent liability is an ascertained liability but its amount and due date are indeterminate.
The life span of a company is dependent on the life span of the
Which of the following events is not a transaction?
Goodwill is not a fictitious asset.
A part of the profit distributed to the shareholders is known as
The balance in the Cash Book represents net income.
Any type of error affects the agreement of Trial Balance.
An expenditure intended to benefit the current period is revenue expenditure.
Wages and Salaries is a charge against
Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
Sale of Office Furniture should be credited to Sales Account.
All indirect expenses are charged against
The basic unit of measurement of the accounting system is ______________.
Capital of the business is an example of external liability.
According to the Concept of Conservatism, an accountant should
Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
The aggregate of direct material, direct labour and direct expenses is known as
Net Realisable Value of an asset means
WDV stands for
Providing depreciation ensures sufficient cash for asset replacement.
Depreciation is not charged on _______________.
The first step of accountancy is
The account which can never have a credit balance is
E. & O.E.
Depreciation cannot be provided in case of loss, in a financial year.
The short description of a transaction written at the end of a journal entry is known as _______________.
Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
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