Another name of journal is_____________?

Related Mcqs:

If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

A. Yes B. No C. Transactions can’t be omitted D. none of these...

Which of the following can be considered as the most important phase of accounting cycle and it is the primarily objective of financial accounting?

A. Identifying transactions B. Preparing “T Accounts” C. Preparing financial statements D. Preparing trial balances...

Depreciation decreases____________?

A. Liabilities B. Cash C. Bank D. Capital...

Gross Profit is equal to_________?

A. Sales – Cost of goods sold B. Sales – Closing Stock + Purchases C. Opening Stock + Purchases – Closing Stock D. None of the above...

In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange duly accepted by the drawee is?

i. Debit Bills Receivable Account ii. Debit Drawee‘s Account iii. Credit Drawee‘s Account iv. Credit Sales Account A. Only (i) above B. Both (ii) and (iv) above C. Both (i) and (iii) above D. Both (i) and (iv) above...