WDV stands for
Written Down Valuation
Write Down Value
Written Down Value
Writing Down Value
Correct Answer :
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Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
Trial Balance is prepared after the preparation of Profit and Loss Account.
E. & O.E.
Fixed Assets are stated in the balance sheet at their market value.
All events are transactions but all transactions are not events.
An expenditure intended to benefit the current period is revenue expenditure.
Transfer to General Reserve is a charge against
A part of the profit distributed to the shareholders is known as
The first step of accountancy is
Depreciation is not charged on _______________.
The account which can never have a credit balance is
Net Realisable Value of an asset means
Sale of Office Furniture should be credited to Sales Account.
Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
Goodwill is not a fictitious asset.
Contingent liability is an ascertained liability but its amount and due date are indeterminate.
The basic unit of measurement of the accounting system is ______________.
Which of the following events is not a transaction?
Any type of error affects the agreement of Trial Balance.
Cash is an example of
Accrual concept implies accounting on cash basis.
HUF stands for
The aggregate of direct material, direct labour and direct expenses is known as
Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
The life span of a company is dependent on the life span of the
Depreciation cannot be provided in case of loss, in a financial year.
The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
Cash payments are recorded on the _______________ of the Cash Book.
Providing depreciation ensures sufficient cash for asset replacement.
All credit sales are recorded in
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