The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd year, on diminishing balance method, is
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The account which can never have a credit balance is
The life span of a company is dependent on the life span of the
According to the Concept of Conservatism, an accountant should
Depreciation is not charged on _______________.
The accounts of a company may be maintained using Single Entry System of Book Keeping also.
WDV stands for
The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
Which of the following events is not a transaction?
Fixed Assets are stated in the balance sheet at their market value.
Contingent liability is an ascertained liability but its amount and due date are indeterminate.
Sale of Office Furniture should be credited to Sales Account.
Capital of the business is an example of external liability.
E. & O.E.
All indirect expenses are charged against
All credit sales are recorded in
WIP stands for
The basic unit of measurement of the accounting system is ______________.
Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
HUF stands for
The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
The balance in the Cash Book represents net income.
Bank Reconciliation statement is prepared to arrive at the Bank Balance.
Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
Accrual concept implies accounting on cash basis.
Cash is an example of
Transfer to General Reserve is a charge against
Which of the following equation(s) is(are) true
Cash payments are recorded on the _______________ of the Cash Book.
Business ventures, which are started for a predefined period, are known as _____________ventures
An expenditure intended to benefit the current period is revenue expenditure.
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