Keeping the log of financial information in books of original entries is called__________?

Related Mcqs:

Which of the following account with normal balance is shown at the debit side of a trial balance?

A. Rent income account B. Creditors account C. Unearned income account D. Cash account...

Which of the following relationships is/are false?

A. Net Profit = Gross Profit – Administration and Other expenses B. Net Profit = Gross Profit + Administration expenses and Other expenses C. Opening Stock + Purchases – Closing Stock = Cost of Sales D. Both B. and C. above...

Riaz holds an average inventory of 36,000(CP) with an inventory turnover of 5 times. If the firm makes a gross profit of 25% on sales, find the total sales of the company.

A. 2,40,000 B. 2,10,000 C. 2,00,000 D. 1,80,000...

Which of these is not an essential feature of a bill of exchange?

A. Unconditional B. Certainty of amount C. In writing D. Amount to be paid in foreign currency...

Which English alphabet is similar to the shape of an account?

A. I B. T C. H D. None...