Credit purchase of plant and machinery is recorded in which of the following journals?

Related Mcqs:

Which of the following will affect the agreement of a trial balance?

A. Complete omission of a transaction B. Partial omission of a transaction C. Error of principle D. Compensating errors...

An asset posses which of the following?

A. Future economic benefits for the business B. All kind of benefits for the business C. Expenses for the business D. Merits and Demerits for the business...

_________ is the evidence that a transaction took place?

A. Source documents B. Ledger C. Bonds D. Journals...

While finalizing the current year‘s accounts, the company realized that an error was made in the calculation of closing stock of the previous year. In the previous year, closing stock was valued more by 50,000. As a result

A. Previous year‘s profit is overstated and current year‘s profit is also overstated. B. Previous year‘s profit is understated and current year‘s profit is overstated. C. Previous year‘s profit is overstated and current year‘s profit is understated. D. There will be no impact on the profit of either the previous year or the current year....

Which of the following is a revenue expenses?

A. Raw material consumed B. Plant purchased C. Long term loan raised from bank D. Share Capital...