Every business transaction affects at least ________ accounts?

Related Mcqs:

Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books?

A. Cash payments journal B. Cash receipts journal C. Purchases return journal D. General journal...

An asset must be _______ by the business to be shown as an asset in its “balance sheet”

A. Possessed B. Owned C. Controlled D. Used...

A journal entry in which two or more account is debited or credited is referred as____________?

A. Journal entry B. Multi entry C. Additional entry D. Compound entry...

Outstanding salaries is shown as___________?

A. An Asset in the Balance Sheet B. A Liability C. By adjusting it in the P & L A/c D. Both B. and C. above...

Which of the following is a current liability?

A. Prepaid expenses B. Trademark C. Discount on issue of shares D. Outstanding Salaries...