Which of the following is a representative Personal A/c?

✅ C. Bank charges will be credited in cash book

Option A : Bank charges will be debited in cash book Option B : Bank charges will be added to cash book balance Option C : Bank charges will be credited in cash book Option D : Bank charges need no adjustment in cash book Correct Answer : Bank charges will be credited in cash book Read more

✅ A. Inventory system

Option A : Inventory system Option B : Survey system Option C : Annuity system Option D : Insurance Correct Answer : Inventory system Read more

✅ C. 24

Option A : 37.5 Option B : 38.25 Option C : 24 Option D : 35 Correct Answer : 24 Read more

✅ B. Payments

Option A : Receipts Option B : Payments Option C : Incomes Option D : Expenditures Correct Answer : Payments Read more

✅ B. T

Option A : I Option B : T Option C : H Option D : None Correct Answer : T Read more

✅ B. Depreciation is a charge against profit

Option A : Depreciation cannot be provided in case of loss in a financial year Option B : Depreciation is a charge against profit Option C : Depreciation is provided in the books only when there is profit Option D : Depreciation is an appropriation of profit Correct Answer : Depreciation is a charge against profit Read more

✅ D. All the three

Option A : Errors of casting Option B : Errors of carry forward Option C : Errors of posting Option D : All the three Correct Answer : All the three Read more

✅ D. The Trial Balance has no statutory importance from the point of view of law

Option A : The Trial Balance is prepared after preparing the Profit and Loss Account Option B : The Trial Balance shows only balances of Assets and Liabilities Option C : The Trial Balance shows only nominal account balances Option D : The Trial Balance has no statutory importance from the point of view of law Correct Answer : The… Read more