A chart of accounts generally start with which of the following types of accounts?

Related Mcqs:

Liability are arisen from which of the following events?

A. Present event B. Future event C. Past event D. None of them...

If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?

A. $5000 B. $10,000 C. $15,000 D. $20,000...

Closing stock in the Trial Balance implies that______________?

A. It is already adjusted in the opening stock B. It is adjusted in the Purchase A/c C. It is adjusted in the Cost of Sale A/c D. It is adjusted in the Profit &Loss A/c...

Which one of the following should be considered a revenue expenditure?

A. 1000 paid for the execution of a new plant B. Loss of 10,000 incurred in increasing the sitting accommodation of a hotel C. Damage paid on account of breach of a contract to supply certain goods D. Repair to machinery purchased, second hand....

Debit balance as per bank pass book mean_____________?

A. Surplus cash B. Bank Overdraft C. Terms deposits with bank D. None of these...