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Wages and Salaries is a charge against

A. Trading Account

B. Profit and Loss Account

C. Profit and Loss Appropriation Account

D. Balance Sheet

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  1. The account which can never have a credit balance is
  2. Copyright is an example of
  3. Any type of error affects the agreement of Trial Balance.
  4. The balance in the Cash Book represents net income.
  5. A part of the profit distributed to the shareholders is known as
  6. WIP stands for
  7. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  8. The first step of accountancy is
  9. Which of the following events is not a transaction?
  10. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  11. Goodwill is not a fictitious asset.
  12. WDV stands for
  13. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  14. An expenditure intended to benefit the current period is revenue expenditure.
  15. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  16. All events are transactions but all transactions are not events.
  17. The basic unit of measurement of the accounting system is ______________.
  18. Capital of the business is an example of external liability.
  19. Business ventures, which are started for a predefined period, are known as _____________ventures
  20. Trial Balance is prepared after the preparation of Profit and Loss Account.
  21. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  22. According to the Concept of Conservatism, an accountant should
  23. Cash is an example of
  24. Providing depreciation ensures sufficient cash for asset replacement.
  25. All credit sales are recorded in
  26. The short description of a transaction written at the end of a journal entry is known as _______________.
  27. Choose the odd one out
  28. Accrual concept implies accounting on cash basis.
  29. HUF stands for
  30. Sale of Office Furniture should be credited to Sales Account.