Which of the following accounting equation is correct?

Related Mcqs:

Keeping the log of financial information in books of original entries is called__________?

A. Recording B. summarizing C. Grouping D. Processing...

Capital of a business decreases if there is an increase in___________?

A. Drawings B. Income C. Gains D. Fresh capital...

Buildings account is debited with an amount towards repairs. This is an example of?

A. Error of commission B. Error of principle C. Error of omission D. Compensating error...

Which of these documents is not required for Bank Reconciliation?

A. Bank column of Cash Book B. Bank Pass Book C. Bank Statement D. Trial Balance...

Which of the following relationships is/are false?

A. Net Profit = Gross Profit – Administration and Other expenses B. Net Profit = Gross Profit + Administration expenses and Other expenses C. Opening Stock + Purchases – Closing Stock = Cost of Sales D. Both B. and C. above...