Accounting means
Book keeping is mainly concerned with
which of the following has debit balance?
Which of the following has credit balance?
Double entry means
Which of the following is an asset of a firm?
Which of the following is a liability of a firm?
Which of the following accounting equation is correct?
The following is a list of the assets and liabilities of a firm at a pertcular date:
Premises owed by the firm is 20000$
Money owed by the firm to it's creditors 3000
Stock owed by the firm 8500
Loan recieved by the firm from bank 4000
Cash in firm's safe 100
The firm's Capital at that date is
When a firm pays one of it's creditors by cheque, the effect on this assets and liabilities is
In accounting the term " purchases" means
Double entry for cash sale is:
Double entry for credit purchase is :
Double entry for cash expense is
Double entry for loan repayment is
Mr. Rahul ( owner) purchased a machinery and decided to bring in his business. The entry should be
When cash is taken out from bank for personal use the entry should be :
The purchase of motor car on credit from Mr. Smith for resale should be recorded as :
The owner of a business withdraws stock for own use. It should be recorded as:
Which of the following is a book of original entry?
Entries are posted to general ledger from
Information extracted from general ledger is known as
Trial balance is for particular:
A firm's trial balance ........................
An error of omission arises when:
An error of comission arises when............
In case of the newsagent's shop, which of the following is an error of principle?
Which of the following has a credit balance?
Mr. John purchases goods on credit. Which sections will increase on John's balance sheet?
When goods are returned to the business, the document sent is known as :