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  1. Transfer to General Reserve is a charge against
  2. The balance in the Cash Book represents net income.
  3. Which of the following events is not a transaction?
  4. Goodwill is not a fictitious asset.
  5. Depreciation is not charged on _______________.
  6. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  7. Wages and Salaries is a charge against
  8. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
  9. All credit sales are recorded in
  10. WDV stands for
  11. HUF stands for
  12. A part of the profit distributed to the shareholders is known as
  13. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  14. The first step of accountancy is
  15. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  16. WIP stands for
  17. All events are transactions but all transactions are not events.
  18. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  19. The life span of a company is dependent on the life span of the
  20. Net Realisable Value of an asset means
  21. Cash is an example of
  22. All indirect expenses are charged against
  23. According to the Concept of Conservatism, an accountant should
  24. Copyright is an example of
  25. Depreciation cannot be provided in case of loss, in a financial year.
  26. The basic unit of measurement of the accounting system is ______________.
  27. The aggregate of direct material, direct labour and direct expenses is known as
  28. Capital of the business is an example of external liability.
  29. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  30. The account which can never have a credit balance is