Journals are also referred as_____________?

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...

What is the basic accounting equation?

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

Payment of expenses will ______ the assets

A. Increase B. Reduce C. apportion D. Overstate...

Which of the following is true regarding closing entries?

A. They must be followed by reversing entries B. They transfer the balances in all of the Nominal Accounts to the Trading and Profit and Loss Account C. They must be made after the reversing entries but before the adjusting entries D. They must be made after the adjusting entries but before the reversing entries...

Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation?

A. Added, Reduced B. Added, Added C. Deducted, Added D. Deducted, Deducted...