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All credit sales are recorded in

A. Sales Day Book

B. Sales Credit Book

C. Sales Day Account

D. Sales Day Register

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  1. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  2. The short description of a transaction written at the end of a journal entry is known as _______________.
  3. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  4. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  5. Cash is an example of
  6. Net Realisable Value of an asset means
  7. Choose the odd one out
  8. Capital of the business is an example of external liability.
  9. Business ventures, which are started for a predefined period, are known as _____________ventures
  10. An expenditure intended to benefit the current period is revenue expenditure.
  11. The basic unit of measurement of the accounting system is ______________.
  12. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  13. Fixed Assets are stated in the balance sheet at their market value.
  14. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  15. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  16. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  17. All indirect expenses are charged against
  18. The account which can never have a credit balance is
  19. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  20. Goodwill is not a fictitious asset.
  21. Wages and Salaries is a charge against
  22. An expense incurred to keep the machine in working condition is a capital expenditure.
  23. Depreciation is not charged on _______________.
  24. HUF stands for
  25. Accrual concept implies accounting on cash basis.
  26. WDV stands for
  27. The balance in the Cash Book represents net income.
  28. Trial Balance is prepared after the preparation of Profit and Loss Account.
  29. Transfer to General Reserve is a charge against
  30. Contingent liability is an ascertained liability but its amount and due date are indeterminate.