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  1. Wages and Salaries is a charge against
  2. The basic unit of measurement of the accounting system is ______________.
  3. E. & O.E.
  4. Choose the odd one out
  5. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  6. Any type of error affects the agreement of Trial Balance.
  7. All indirect expenses are charged against
  8. WIP stands for
  9. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  10. Goodwill is not a fictitious asset.
  11. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  12. A part of the profit distributed to the shareholders is known as
  13. Capital of the business is an example of external liability.
  14. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
  15. All credit sales are recorded in
  16. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  17. Fixed Assets are stated in the balance sheet at their market value.
  18. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  19. Business ventures, which are started for a predefined period, are known as _____________ventures
  20. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  21. Cash is an example of
  22. Accrual concept implies accounting on cash basis.
  23. Providing depreciation ensures sufficient cash for asset replacement.
  24. Cash payments are recorded on the _______________ of the Cash Book.
  25. WDV stands for
  26. Depreciation is not charged on _______________.
  27. An expenditure intended to benefit the current period is revenue expenditure.
  28. Trial Balance is prepared after the preparation of Profit and Loss Account.
  29. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  30. Copyright is an example of