Every business transaction affects at least ________ accounts?
Every business transaction affects at least ________ accounts?
A. One
B. Two
C. Three
D. Infinite
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reduction in price is called:
reduction in price is called:
A. Paid price
B. Invoice price
C. Book price
D. DiscountFinancial statements differ from management account because
Financial statements differ from management account because
A. They are mainly prepared for external users of financial information
B. They are more complex and hard to prepare
C. The are the summary of accounting data
D. The are prepared on basis of actual conceptRevenue receipts are shown in___________?
Revenue receipts are shown in___________?
A. Balance Sheet
B. Profit and Loss appropriation A/c
C. Manufacturing A/c
D. Trading and Profit and Loss A/cWhich of these errors affect two or more accounts
Which of these errors affect two or more accounts
A. Errors of complete omission
B. Errors of principle
C. Errors of posting to wrong account
D. All the threePetty cash balance is a/an___________?
Petty cash balance is a/an___________?
A. Assets
B. Expenditure
C. Liability
D. NoneIf debit balance is greater than creadit balance then the account blance will be__________?
If debit balance is greater than creadit balance then the account blance will be__________?A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance