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HUF stands for

A. Hindu United Family

B. HIndi Undivided Family

C. Hindu Undivided Family

D. Hindu Uniform Family

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  1. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  2. Depreciation is not charged on _______________.
  3. WDV stands for
  4. Any type of error affects the agreement of Trial Balance.
  5. Wages and Salaries is a charge against
  6. Transfer to General Reserve is a charge against
  7. Capital of the business is an example of external liability.
  8. Choose the odd one out
  9. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  10. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  11. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  12. Trial Balance is prepared after the preparation of Profit and Loss Account.
  13. Goodwill is not a fictitious asset.
  14. The aggregate of direct material, direct labour and direct expenses is known as
  15. All events are transactions but all transactions are not events.
  16. Which of the following equation(s) is(are) true
  17. WIP stands for
  18. The account which can never have a credit balance is
  19. Cash payments are recorded on the _______________ of the Cash Book.
  20. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  21. The balance in the Cash Book represents net income.
  22. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  23. Business ventures, which are started for a predefined period, are known as _____________ventures
  24. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  25. Net Realisable Value of an asset means
  26. Cash is an example of
  27. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  28. Providing depreciation ensures sufficient cash for asset replacement.
  29. The short description of a transaction written at the end of a journal entry is known as _______________.
  30. The accounts of a company may be maintained using Single Entry System of Book Keeping also.