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Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.

A. True

B. False

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  1. E. & O.E.
  2. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  3. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  4. The life span of a company is dependent on the life span of the
  5. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  6. Sale of Office Furniture should be credited to Sales Account.
  7. According to the Concept of Conservatism, an accountant should
  8. Accrual concept implies accounting on cash basis.
  9. Which of the following events is not a transaction?
  10. The balance in the Cash Book represents net income.
  11. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  12. Fixed Assets are stated in the balance sheet at their market value.
  13. All events are transactions but all transactions are not events.
  14. The short description of a transaction written at the end of a journal entry is known as _______________.
  15. Cash payments are recorded on the _______________ of the Cash Book.
  16. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  17. Providing depreciation ensures sufficient cash for asset replacement.
  18. Copyright is an example of
  19. Choose the odd one out
  20. Cash is an example of
  21. All indirect expenses are charged against
  22. WDV stands for
  23. Depreciation is not charged on _______________.
  24. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  25. The basic unit of measurement of the accounting system is ______________.
  26. HUF stands for
  27. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  28. Business ventures, which are started for a predefined period, are known as _____________ventures
  29. Wages and Salaries is a charge against
  30. An expense incurred to keep the machine in working condition is a capital expenditure.