SALE of old furniture” will be recorded in which of the following specialised journals?

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...

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...

Capital expenditure is an expenditure which

A. Benefits the current accounting period B. Will benefit the next accounting period C. Results in the acquisition of a permanent asset D. Results in the acquisition of a current asset...

On scrutiny of a firm‘s books of accounts, it was observed that the following errors have occurred in the previous years but have not yet been rectified.

i. Depreciation for 2011-2012- 7,000 understated ii. Accrued expenses as at March 31, 2013 – 10,000 understated The impact of this on the reported net income for the year ending March 31, 2013 is A. 7,000 Overstated B. 10,000 Overstated C. 17,000 Understated D. 17,000 Overstated...

A Bill of Exchange is drawn on 1st April, 2018 payable after 3 months. The due date of the bill is?

A. 30th June,2018 B. 1st July,2018 C. 4th July,2018 D. 4th August,2018...