The basic unit of measurement of the accounting system is ______________.

A. Money

B. Finance

C. Weight

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. All indirect expenses are charged against
  2. Sale of Office Furniture should be credited to Sales Account.
  3. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  4. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  5. Which of the following events is not a transaction?
  6. Accrual concept implies accounting on cash basis.
  7. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  8. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  9. Business ventures, which are started for a predefined period, are known as _____________ventures
  10. All credit sales are recorded in
  11. Depreciation is not charged on _______________.
  12. Net Realisable Value of an asset means
  13. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  14. The short description of a transaction written at the end of a journal entry is known as _______________.
  15. The account which can never have a credit balance is
  16. An expenditure intended to benefit the current period is revenue expenditure.
  17. Copyright is an example of
  18. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  19. Fixed Assets are stated in the balance sheet at their market value.
  20. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  21. The first step of accountancy is
  22. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  23. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  24. Depreciation cannot be provided in case of loss, in a financial year.
  25. Goodwill is not a fictitious asset.
  26. The aggregate of direct material, direct labour and direct expenses is known as
  27. An expense incurred to keep the machine in working condition is a capital expenditure.
  28. Choose the odd one out
  29. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  30. Any type of error affects the agreement of Trial Balance.