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All indirect expenses are charged against

A. Trading Account

B. Profit and Loss Account

C. Manufacturing Account

D. None of the above

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  1. Capital of the business is an example of external liability.
  2. Wages and Salaries is a charge against
  3. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  4. The short description of a transaction written at the end of a journal entry is known as _______________.
  5. Business ventures, which are started for a predefined period, are known as _____________ventures
  6. An expenditure intended to benefit the current period is revenue expenditure.
  7. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  8. Depreciation is not charged on _______________.
  9. The first step of accountancy is
  10. Net Realisable Value of an asset means
  11. Any type of error affects the agreement of Trial Balance.
  12. Trial Balance is prepared after the preparation of Profit and Loss Account.
  13. A part of the profit distributed to the shareholders is known as
  14. The aggregate of direct material, direct labour and direct expenses is known as
  15. All indirect expenses are charged against
  16. Goodwill is not a fictitious asset.
  17. The balance in the Cash Book represents net income.
  18. Which of the following events is not a transaction?
  19. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  20. Cash payments are recorded on the _______________ of the Cash Book.
  21. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  22. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  23. E. & O.E.
  24. All credit sales are recorded in
  25. The basic unit of measurement of the accounting system is ______________.
  26. According to the Concept of Conservatism, an accountant should
  27. An expense incurred to keep the machine in working condition is a capital expenditure.
  28. Accrual concept implies accounting on cash basis.
  29. Fixed Assets are stated in the balance sheet at their market value.
  30. Choose the odd one out