At the end of the year, the interest paid and depreciation charged are transferred to the____________ account
A) Asset
B) Profit and Loss
C) Purchaser
D) Seller
Correct Answer:
Verified
Q7: Bad Debt Return is to be credited
Q8: Generally, depreciation on fixed assets is calculated
Q9: Why opening statement of affairs is prepared?
A)To
Q10: Total amount payable less its cash price
Q11: Dipti has purchased one Machine on hire
Q13: Paid Rs. 7000 at the time of
Q14: Interest is calculated on_ under hire purchase agreement.
A)Cash
Q15: In case of Hire purchase, the depreciation
Q16: According to hire purchase agreement Rs. 25000
Q17: Fire insurance Provides cover for -
A)Tangible Assets
B)Intangible
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