(A) South Africa
(B) South Korea
(C) North Korea
(D) UK
The term Imprest system is related to__.
(A) Petty cash
(B) Inventory valuation
(C) Classification of assets
(D) None
On the debit side of a Sales A/c entry can be for which of these reasons?
(A) Sales returns
(B) Discount allowed
(C) Both
(D) Additional sales
Which of these items will not be capitalized along with the Asset?
(A) Installation charges
(B) Annual repair and maintenance
(C) Statutory levies
(D) Freight and insurance
Which of these is an example of accelerate method of depreciation?
(A) Written down value method
(B) Straight line method
(C) Sinking fund method
(D) Annuity method
Choose the true statement__.
(A) Income and gain A/cs shows increase on credit side
(B) Expenses and losses A/cs shows reduction in balance on debit side
(C) Assets A/c can have credit balance also
(D) Debtors are the owing of the business
Under which method of depreciation annual depreciation goes on decreasing?
(A) Reducing balance method
(B) Straight line method
(C) Annuity method
(D) None
Narrations are usually given at the end of?
(A) Each journal entry
(B) Each page
(C) Each column
(D) Each account