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

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...

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...

Which of the following statements is true?

A. If a Trial Balance tallies, it always means that none of the transactions has been completely omitted B. A Trial Balance will not tally if a transaction is omitted C. A customer to whom goods have been sold on credit cannot avail himself of a cash discount D. A credit balance in the Pass … Which of the following statements is true?Read More...

Which one of the following is a capital expenditure?

A. Compensation paid to Directors on termination of their services B. Expenditure incurred in connection with the renewal of a Trade Mark. C. Gratuities paid to Directors on termination of their services. D. Royalty paid in installments for the purchase of rights to manufacture and sell patient medicines....