Wages and Salaries is a charge against

A. Trading Account

B. Profit and Loss Account

C. Profit and Loss Appropriation Account

D. Balance Sheet

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  1. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  2. HUF stands for
  3. Accrual concept implies accounting on cash basis.
  4. Providing depreciation ensures sufficient cash for asset replacement.
  5. Which of the following events is not a transaction?
  6. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  7. The short description of a transaction written at the end of a journal entry is known as _______________.
  8. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  9. Business ventures, which are started for a predefined period, are known as _____________ventures
  10. Depreciation is not charged on _______________.
  11. E. & O.E.
  12. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  13. Which of the following equation(s) is(are) true
  14. Depreciation cannot be provided in case of loss, in a financial year.
  15. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  16. Transfer to General Reserve is a charge against
  17. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  18. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  19. Fixed Assets are stated in the balance sheet at their market value.
  20. Capital of the business is an example of external liability.
  21. The aggregate of direct material, direct labour and direct expenses is known as
  22. Cash is an example of
  23. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  24. The balance in the Cash Book represents net income.
  25. All indirect expenses are charged against
  26. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  27. Cash payments are recorded on the _______________ of the Cash Book.
  28. Sale of Office Furniture should be credited to Sales Account.
  29. The first step of accountancy is
  30. A part of the profit distributed to the shareholders is known as