Accounting Miscellaneous
Favourable balance of cash book implies
Credit balance of cash book
Debit balance of cash book
Bank overdraft
Adjusted balance of cash book
Debit balance of cash book
Favourable balance of cash book implies balance at Bank. The credit balance as per the cash book indicates bank overdraft.
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The following is (are) the type(s) of JournalA. Purchase Journal
B. Sales Journal
C. Cash Journal
D. All of the above
Which of the following will be debited if a business purchases goods on credit?
A. Cash
B. Debtor
C. Creditor
D. Purchases
Information about an item is _______ if its ommission or misstatement might influence the financial decision of the users taken on the basis of that information
A. Concrete
B. Complete
C. Immaterial
D. Material
How trial balance shows the accumulated depreciation?
A. as a debit item
B. as a credit item
C. It doesn’t show
D. None of these
Which of the following is a commonly used base to create the provision for doubtful debts?
A. Total purchases
B. Total credit sales
C. Total current assets
D. Total current liabilities
The real accounts are accounts of Assets, Liabilities and
A. Expenses
B. Revenues
C. Capital
D. Drawing
Under which method of depreciation, the amount of depreciation expenses remains constant throughout the life of the asset?
A. Reducing balance method
B. Unit of activity method
C. Straight line method
D. None of these
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