The Basic accounting equation is___________?

Related Mcqs:

Another name of journal is_____________?

A. Specialized journal B. Day book C. Cash book D. Record book...

Cash book records?

A. Only cash sales B. All types of cash receipts and payments C. Only revenue receipts D. Only capital receipts...

Which of the following statements is true with regard to written down value method of depreciation?

i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of … Which of the following statements is true with regard to written down value method of depreciation?Read More...

Gross Profit is equal to_________?

A. Sales – Cost of goods sold B. Sales – Closing Stock + Purchases C. Opening Stock + Purchases – Closing Stock D. None of the above...

In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange duly accepted by the drawee is?

i. Debit Bills Receivable Account ii. Debit Drawee‘s Account iii. Credit Drawee‘s Account iv. Credit Sales Account A. Only (i) above B. Both (ii) and (iv) above C. Both (i) and (iii) above D. Both (i) and (iv) above...