Which of the following is not a method of charging depreciation?
Which of the following is not a method of charging depreciation?
A. Straight line Method
B. Written down value Method
C. Discounted present value Method
D. Sum of digits Method
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Liabilities are which of the following?
Liabilities are which of the following?
A. Resources
B. Obligations
C. Future benefits
D. ExpensesSALE of old furniture” will be recorded in which of the following specialised journals?
SALE of old furniture” will be recorded in which of the following specialised journals?
A. Purchase journal
B. Sales journal
C. General journal
D. Cash receipt journalWhich of these errors affect only one account?
Which of these errors affect only one account?
A. Errors of casting
B. Errors of carry forward
C. Errors of posting
D. All the threeThe other name of journal is____________?
The other name of journal is____________?
A. Ledger
B. T account
C. Day book
D. Cash bookDouble entry implies that
Double entry implies that
A. Recording entries in journal
B. Recording entries in Ledger account
C. Recording two aspects of every transaction
D. Recording every transaction in booksWhich of the following is not depreciated?
Which of the following is not depreciated?
A. Building
B. Land
C. Plant and Machinery
D. Office equipment