Every business transaction affects at least ________ accounts?

Related Mcqs:

If debit balances = credit balances, trial balance only shows or check the ____________ and it does not indicate that no errors were made during recording and posting.

A. Arithmetic accuracy B. Errors of commission C. Omissions of economic events D. Understatements of balances...

What is the basic accounting equation?

A. Capital+Liabilities=Assets B. Assets+ liabilities =Capital C. Capital+assets=liabilities D. Liabilities+Capital...

Current assets – Current liabilities=?

A. Capital B. Absorbed capital C. Net assets D. Net working capital...

Which of the following statements is correct about Trial Balance?

A. The Trial Balance is prepared after preparing the Profit and Loss Account B. The Trial Balance shows only balances of Assets and Liabilities C. The Trial Balance shows only nominal account balances D. The Trial Balance has no statutory importance from the point of view of law...

Which of the following shall not be deducted from net profit while calculating managerial remuneration?

A. Loss on sale of undertaking B. Debts considered bad and written off C. Liability arising from a breach of contract D. Director‘s remuneration...