Amount paid to Masood posted to the credit side of his account would affect___________?

Related Mcqs:

Cash received from debtor is recorded in which of the following SPECIALIZED journals?

A. Purchase journal B. Sales journal C. Cash receipts D. Cash payments journal...

_______ the withdrawal of cash and goods by the owner of the busienss for his/her personal use?

A. Depreciation B. Drawings C. Outflow of cash D. Appreciation...

An increase in provision for bad debt will____________?

A. Decrease net income B. Decrease liabilities C. Increase net income D. Increase liabilities...

Journal proper is meant for recording_____________?

A. Credit purchase of fixed assets B. Return of goods C. All such transactions for which no special journal has been kept by the business D. None of these...

Expenses of the following nature are treated as a Revenue expenses except__________?

A. Expenses for day to day running of the business B. Putting the new asset in working condition C. Depreciation D. Purchase of raw material...