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. Sale of Office Furniture should be credited to Sales Account.
  2. The first step of accountancy is
  3. Fixed Assets are stated in the balance sheet at their market value.
  4. The short description of a transaction written at the end of a journal entry is known as _______________.
  5. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  6. An expense incurred to keep the machine in working condition is a capital expenditure.
  7. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  8. Which of the following equation(s) is(are) true
  9. Cash payments are recorded on the _______________ of the Cash Book.
  10. Depreciation is not charged on _______________.
  11. Which of the following events is not a transaction?
  12. All events are transactions but all transactions are not events.
  13. All credit sales are recorded in
  14. The aggregate of direct material, direct labour and direct expenses is known as
  15. WIP stands for
  16. Wages and Salaries is a charge against
  17. Transfer to General Reserve is a charge against
  18. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  19. Net Realisable Value of an asset means
  20. All indirect expenses are charged against
  21. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  22. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  23. The balance in the Cash Book represents net income.
  24. E. & O.E.
  25. Any type of error affects the agreement of Trial Balance.
  26. Cash is an example of
  27. The account which can never have a credit balance is
  28. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  29. Capital of the business is an example of external liability.
  30. WDV stands for