Home

The life span of a company is dependent on the life span of the

A. Owner(s) of the company

B. Promoter of the company

C. Managing Director of the company

D. None of the above

You can do it
  1. Sale of Office Furniture should be credited to Sales Account.
  2. The short description of a transaction written at the end of a journal entry is known as _______________.
  3. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  4. Capital of the business is an example of external liability.
  5. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  6. The account which can never have a credit balance is
  7. Wages and Salaries is a charge against
  8. Providing depreciation ensures sufficient cash for asset replacement.
  9. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  10. Cash is an example of
  11. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  12. The balance in the Cash Book represents net income.
  13. E. & O.E.
  14. Copyright is an example of
  15. All credit sales are recorded in
  16. Net Realisable Value of an asset means
  17. A part of the profit distributed to the shareholders is known as
  18. An expense incurred to keep the machine in working condition is a capital expenditure.
  19. Any type of error affects the agreement of Trial Balance.
  20. Depreciation is not charged on _______________.
  21. Depreciation cannot be provided in case of loss, in a financial year.
  22. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  23. Business ventures, which are started for a predefined period, are known as _____________ventures
  24. WIP stands for
  25. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  26. HUF stands for
  27. Which of the following events is not a transaction?
  28. Accrual concept implies accounting on cash basis.
  29. Fixed Assets are stated in the balance sheet at their market value.
  30. Bank Reconciliation statement is prepared to arrive at the Bank Balance.