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Cash payments are recorded on the _______________ of the Cash Book.

A. Debit side

B. Credit side

C. Both sides

D. Any one side

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  1. Copyright is an example of
  2. E. & O.E.
  3. Goodwill is not a fictitious asset.
  4. The aggregate of direct material, direct labour and direct expenses is known as
  5. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  6. The basic unit of measurement of the accounting system is ______________.
  7. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  8. Cash is an example of
  9. All credit sales are recorded in
  10. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  11. All events are transactions but all transactions are not events.
  12. A part of the profit distributed to the shareholders is known as
  13. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  14. Any type of error affects the agreement of Trial Balance.
  15. Business ventures, which are started for a predefined period, are known as _____________ventures
  16. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  17. According to the Concept of Conservatism, an accountant should
  18. An expense incurred to keep the machine in working condition is a capital expenditure.
  19. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  20. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  21. WDV stands for
  22. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  23. The first step of accountancy is
  24. Accrual concept implies accounting on cash basis.
  25. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  26. Depreciation cannot be provided in case of loss, in a financial year.
  27. Choose the odd one out
  28. The account which can never have a credit balance is
  29. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
  30. HUF stands for