The process of recording transactions in different journals is called_________?

Related Mcqs:

If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

A. Yes B. No C. Transactions can’t be omitted D. none of these...

Liability are arisen from which of the following events?

A. Present event B. Future event C. Past event D. None of them...

If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?

A. $5000 B. $10,000 C. $15,000 D. $20,000...

Closing stock in the Trial Balance implies that______________?

A. It is already adjusted in the opening stock B. It is adjusted in the Purchase A/c C. It is adjusted in the Cost of Sale A/c D. It is adjusted in the Profit &Loss A/c...

Which one of the following should be considered a revenue expenditure?

A. 1000 paid for the execution of a new plant B. Loss of 10,000 incurred in increasing the sitting accommodation of a hotel C. Damage paid on account of breach of a contract to supply certain goods D. Repair to machinery purchased, second hand....