Which one of the following is used to simplify work, to be d
Which one of the following is used to simplify work, to be done at the end of period:
bank statement | |
balance sheet | |
work sheet | |
income statement |
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A sheet which minimizes the chances of errors to the maximum
A sheet which minimizes the chances of errors to the maximum possible extent is called:
paper sheet | |
income statement | |
balance sheet | |
work sheet |
Expired cost of fixed assets means:
Expired cost of fixed assets means:
none of these | |
amortization | |
depreciation | |
appreciation |
In the preparation of the worksheet the amounts in the trial
In the preparation of the worksheet the amounts in the trial balance columns are taken directly from:
journal | |
trial balance | |
ledger | |
transaction |
The body of work sheet contains:
The body of work sheet contains:
five pairs of money column | |
three pairs of money column | |
four pairs of money column | |
two pairs of money contains |
Which one of the following is not considered the permanent p
Which one of the following is not considered the permanent part of the accounting record:
ledger | |
trial balance | |
journal | |
work sheet |
One way of avoiding errors in the permanent accounting recor
One way of avoiding errors in the permanent accounting records is to use a form which is called:
balance sheet | |
trial statement | |
bank statement | |
work sheet |
Worksheet provides complete information for preparing:
Worksheet provides complete information for preparing:
income statement | |
financial statement | |
bank reconciliation statement | |
position statement |
Bad debts are debited to:
Bad debts are debited to:
liabilities side | |
both assets & liabilities sides | |
assets side | |
none of these |
The loss of the sale of old machinery is debited to:
The loss of the sale of old machinery is debited to:
accumulated depreciation | |
profit and loss a/c | |
depreciation a/c | |
machinery a/c |
Business allow cash discount on making prompt payment to its
Business allow cash discount on making prompt payment to its:
debtors | |
partners | |
creditors | |
investor |
Bad debts recovered from debtors should be credited to:
Bad debts recovered from debtors should be credited to:
debtors a/c | |
bad debts a/c | |
cash a/c | |
bad debts recovery a/c |
The debts, which are irrecoverable from the debtors, are cal
The debts, which are irrecoverable from the debtors, are called:
good debts | |
debts | |
doubtful debts | |
bad debts |
The amount becomes due from the customers is called:
The amount becomes due from the customers is called:
debts | |
doubtful debts | |
loan | |
allowance |
Patent is an example of:
Patent is an example of:
expense | |
income | |
liabilities | |
assets |
Income tax paid is a:
Income tax paid is a:
personal expense | |
liability of business | |
business expense | |
revenue for business |
Net loss is always:
Net loss is always:
none of these | |
equal to gross profit | |
less than gross profit | |
more than gross profit |
Wages paid for installing a machine should be debited to:
Wages paid for installing a machine should be debited to:
none of these | |
cash a/c | |
machinery a/c | |
wages a/c |
Net profit is always:
Net profit is always:
equal to gross profit | |
less than gross profit | |
more than gross profit | |
none of these |
Deprecation is:
Deprecation is:
an expense | |
a liability | |
both b, c | |
a loss |