The life span of a company is dependent on the life span of the

A. Owner(s) of the company

B. Promoter of the company

C. Managing Director of the company

D. None of the above

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

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  1. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  2. WIP stands for
  3. Depreciation is not charged on _______________.
  4. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  5. The short description of a transaction written at the end of a journal entry is known as _______________.
  6. The basic unit of measurement of the accounting system is ______________.
  7. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  8. The aggregate of direct material, direct labour and direct expenses is known as
  9. WDV stands for
  10. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  11. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  12. All indirect expenses are charged against
  13. Business ventures, which are started for a predefined period, are known as _____________ventures
  14. Cash payments are recorded on the _______________ of the Cash Book.
  15. The first step of accountancy is
  16. Capital of the business is an example of external liability.
  17. Goodwill is not a fictitious asset.
  18. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  19. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
  20. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  21. An expenditure intended to benefit the current period is revenue expenditure.
  22. Sale of Office Furniture should be credited to Sales Account.
  23. All events are transactions but all transactions are not events.
  24. Any type of error affects the agreement of Trial Balance.
  25. E. & O.E.
  26. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  27. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  28. Wages and Salaries is a charge against
  29. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  30. Trial Balance is prepared after the preparation of Profit and Loss Account.