Double entry implies that

Related Mcqs:

Which of the following specialised journals will record “goods returned by the BUSINESS “?

A. Purchase journal B. Sales journal C. Purchases return journal D. Sales return journal...

The other name of journal is____________?

A. Ledger B. T account C. Day book D. Cash book...

Which of the following errors affects the agreement of a Trial Balance?

A. Mistake in balancing an account B. Omitting to record a transaction entirely in the subsidiary books C. Recording of a wrong entry in the subsidiary books D. Posting an entry on the correct side but in the wrong account...

In a three column cash book_______________does not exist?

A. Cash column B. Bank column C. Petty cash column D. Discount column...

Which of the following statements is true with regard to written down value method of depreciation?

i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of … Which of the following statements is true with regard to written down value method of depreciation?Read More...