Depreciation is calculated on the____________?
Depreciation is calculated on the____________?
A. Cost price of asset
B. Market price
C. Cost+ Transport+ Installation expenses
D. Cost or market values whichever is less
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If credit side of a bank account is greater than the debit side, it indicates which of the following?
If credit side of a bank account is greater than the debit side, it indicates which of the following?A. Bank overdraft
B. Cash at bank
C. Bank balance
D. Current Asset_________ is the evidence that a transaction took place?
_________ is the evidence that a transaction took place?
A. Source documents
B. Ledger
C. Bonds
D. JournalsThe other name of journal is____________?
The other name of journal is____________?
A. Ledger
B. T account
C. Day book
D. Cash bookDepreciation appearing in the Trial Balance should be?
Depreciation appearing in the Trial Balance should be?A. Debited to P&L A/c
B. Shown as liability in Balance Sheet
C. Reduced from related asset in Balance Sheet
D. Both A. and C. aboveAny item appearing in the Trial Balance will have one effect i.e., depreciation appearing
in the Trial Balance will be debited to the Profit & Loss Account. However, if depreciation is given in the adjustments, it will have double effect i.e., it should be debited to P&L A/c and deducted from the gross fixed asset block in the Balance Sheet also.Short term Assets expected to be converted into cash within 1 year or less than?
Short term Assets expected to be converted into cash within 1 year or less than?
A. Current Assets
B. Fixed Assets
C. Current Assets& current liabilities
D. All of the abovePayment of expenses will ______ the assets
Payment of expenses will ______ the assets
A. Increase
B. Reduce
C. apportion
D. Overstate