Net income equal to Revenues minus____________?
Net income equal to Revenues minus____________?
A. Gains
B. Depreciation
C. Expenses
D. Capital expenditures
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Sales on credit is recorded in which of the following journal?
Sales on credit is recorded in which of the following journal?
A. Purchase journal
B. Sales journal
C. Purchases return journal
D. Sales return journalWhich of the following specialized journals records “goods returned by customers”?
Which of the following specialized journals records “goods returned by customers”?
A. Purchase journal
B. Sales journal
C. Purchases return journal
D. Sales return journal________ is the common base for preparing a trial balance?
________ is the common base for preparing a trial balance?A. Ledger accounts
B. General Journal
C. Specialized journals
D. Balance sheetThe process of recording transactions in different journals is called_________?
The process of recording transactions in different journals is called_________?
A. Posting
B. Entry making
C. Adjusting
D. JournalizingCash book records:______________?
Cash book records:______________?A. Cash payments
B. Cash receipts
C. Cash payments and cash receipts
D. Neither cash payments nor cash receiptsExpenses of the following nature are treated as a Revenue expenses except__________?
Expenses of the following nature are treated as a Revenue expenses except__________?
A. Expenses for day to day running of the business
B. Putting the new asset in working condition
C. Depreciation
D. Purchase of raw material