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HUF stands for

A. Hindu United Family

B. HIndi Undivided Family

C. Hindu Undivided Family

D. Hindu Uniform Family

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  1. All indirect expenses are charged against
  2. Business ventures, which are started for a predefined period, are known as _____________ventures
  3. Transfer to General Reserve is a charge against
  4. Depreciation is not charged on _______________.
  5. The life span of a company is dependent on the life span of the
  6. WIP stands for
  7. Choose the odd one out
  8. Trial Balance is prepared after the preparation of Profit and Loss Account.
  9. Any type of error affects the agreement of Trial Balance.
  10. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  11. Cash payments are recorded on the _______________ of the Cash Book.
  12. Goodwill is not a fictitious asset.
  13. Depreciation cannot be provided in case of loss, in a financial year.
  14. WDV stands for
  15. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  16. Capital of the business is an example of external liability.
  17. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  18. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  19. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  20. The first step of accountancy is
  21. The balance in the Cash Book represents net income.
  22. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  23. An expense incurred to keep the machine in working condition is a capital expenditure.
  24. Which of the following events is not a transaction?
  25. An expenditure intended to benefit the current period is revenue expenditure.
  26. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  27. Copyright is an example of
  28. Accrual concept implies accounting on cash basis.
  29. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  30. According to the Concept of Conservatism, an accountant should