Business ventures, which are started for a predefined period, are known as _____________ventures

A. Joint

B. Terminal

C. Treminable

D. Limited Period

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  3. Wages and Salaries is a charge against
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  5. Net Realisable Value of an asset means
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  8. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
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  10. The account which can never have a credit balance is
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  12. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  13. An expenditure intended to benefit the current period is revenue expenditure.
  14. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  15. HUF stands for
  16. E. & O.E.
  17. The short description of a transaction written at the end of a journal entry is known as _______________.
  18. Providing depreciation ensures sufficient cash for asset replacement.
  19. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  20. The life span of a company is dependent on the life span of the
  21. Choose the odd one out
  22. Any type of error affects the agreement of Trial Balance.
  23. According to the Concept of Conservatism, an accountant should
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  25. The first step of accountancy is
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  27. Accrual concept implies accounting on cash basis.
  28. Transfer to General Reserve is a charge against
  29. Depreciation is not charged on _______________.
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