A credit balance in cash book indicates?

✅ A. Credit balance

Option A : Credit balance Option B : Debit balance Option C : Bank overdraft Option D : Adjusted balance Correct Answer : Credit balance Read more

✅ B. Purchase A/c

Option A : Purchase register Option B : Purchase A/c Option C : Cash purchase A/c Option D : Credit purchase A/c Correct Answer : Purchase A/c Read more

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Option A : 17,000 (overstated Option B : 12,000 (understated Option C : 7,000 (understated Option D : 7,000 (overstate Correct Answer : Read more

✅ A. $5000 will be credited

Option A : $5000 will be credited Option B : $5000 will be debited Option C : $10,000 will be credited Option D : $10,000 will be debited Correct Answer : $5000 will be credited Read more

✅ A. Written down value

Option A : Written down value Option B : Accumulated value Option C : Salvage value Option D : Residual Value Correct Answer : Written down value Read more

✅ D. A credit balance in the Pass Book indicates excess of deposits over withdrawals

Option A : If a Trial Balance tallies, it always means that none of the transactions has been completely omitted Option B : A Trial Balance will not tally if a transaction is omitted Option C : A customer to whom goods have been sold on credit cannot avail himself of a cash discount Option D : A credit balance… Read more

✅ B. Credit

Option A : Debit Option B : Credit Option C : Expenses Option D : Liability Correct Answer : Credit Read more

✅ A. Current Assets

Option A : Current Assets Option B : Fixed Assets Option C : Current Assets& current liabilities Option D : All of the above Correct Answer : Current Assets Read more