Question No : 15
Cash payments are recorded on the _______________ of the Cash Book.
Question No : 16
All events are transactions but all transactions are not events.
Question No : 17
In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of Credit balances, in certain situations, even if transactions are recorded correctly.
Question No : 18
Capital of the business is an example of external liability.
Question No : 19
If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books of accounts.
Question No : 20
The accounts of a company may be maintained using Single Entry System of Book Keeping also.
Question No : 21
Arrange the steps of accounting in sequential order -
(i) Trial Balance;
(ii) Journal Entry;
(iii) Balancing of Accounts;
(iv) Ledger Posting.