Discount allowed is a kind of deduction from_____________?
Discount allowed is a kind of deduction from_____________?
A. Account payable
B. Account receivable
C. Cash account
D. Discount account
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Which of the following is not a feature of a promissory note?
Which of the following is not a feature of a promissory note?A. It must be in writing
B. It contains an unconditional promise to pay
C. It is payable to the bearer
D. It must be signed by the maker
C. According to the Negotiable Instrument Act, promissory note is not payable to the bearer. It must contain an order to pay. So this is not the characteristic of promissory note. Other options are the characteristics of promissory note.Journal proper is meant for recording_____________?
Journal proper is meant for recording_____________?
A. Credit purchase of fixed assets
B. Return of goods
C. All such transactions for which no special journal has been kept by the business
D. None of theseClosing stock appearing in the Trial Balance is shown in:
Closing stock appearing in the Trial Balance is shown in:A. Trading A/c and Balance Sheet
B. Profit and Loss A/c
C. Balance Sheet only
D. Trading A/c onlyWhich of the following account with normal balance is shown at the debit side of a trial balance?
Which of the following account with normal balance is shown at the debit side of a trial balance?
A. Rent income account
B. Creditors account
C. Unearned income account
D. Cash accountWhich of these items are taken into consideration for preparation of adjusted Cash Book
Which of these items are taken into consideration for preparation of adjusted Cash Book
A. Mistake in Cash Book
B. Mistake in Pass Book
C. Cheque issued but not presented for payment
D. Cheques deposited but not clearedAn account records the ___________ in the balance of an item?
An account records the ___________ in the balance of an item?A. Increase
B. Decrease
C. Increase or decrease
D. Appreciation