Sales and purchase journal don’t record__________?

Related Mcqs:

Debit balance = Credit balance in a trial balance indicates that:

A. No error in recording transactions B. No error in posting entries to ledger accounts C. Account balances are correct D. Mathematically Capital+Liabilities=Assets...

_________ is the first phase of accounting cycle?

A. Identifying an economic event or transaction B. Preparing journals C. Posting entries to ledger accounts D. Making decisions about business...

General journal is a book of _______ entries?

A. First B. Original C. Secondary D. Generic...

Which of the following entries is correct in respect of reserve for discounts on accounts payable?

A. Debit P&L A/c and Credit Reserve for Discount on Accounts Payable A/c B. Debit Accounts Payable A/c and Credit P&L A/c C. Debit Reserve for Discount on Accounts Payable A/c and Credit P&L A/c D. Debit Reserve for Discount on Accounts Payable A/c and credit Accounts Payable A/c...

Depreciation Account appearing in the Trial Balance is shown in:

A. Profit and Loss A/c B. Trading A/c C. Deducted from the concerned assets A/c D. Shown on the liability side...