A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
Which of the following accounts can be classified as a real account?
A. Rent expenses account
B. Rent income account
C. insurance expenses account
D. Cash account
BUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?
A. Cash receipts journal
B. Cash payments journal
C. Sales journal
D. Purchase journal
Any donation received for a specific purpose is a_________?
A. Liability
B. Assets
C. Revenue receipts
D. Capital receipts
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
Which of the following is an item of capital expenditure?
A. Research and development costs during the year
B. Interest on borrowed fund utilized for acquisition of Office Furniture
C. Installation charges paid in conjunction with the purchase of Office Equipment
D. Monthly rent of a machinery used in the business
A capital expenditure is a non- recurring expenditure whose benefit lasts for more than one accounting period. Installation charges paid in conjunction with the purchase of office equipment is an one-time expenditure whose benefit lasts for more than one accounting period.
A. Recording
B. Transferring
C. Posting
D. Entry making