Gross assets - liabilities will be equal to
A) Net assets
B) Total assets
C) Capital
D) Net liabilities
Correct Answer:
Verified
Q21: In non - profit organizations excess of
Q22: Collection of all accounts us called
A)Trial balance
B)Journal
C)Ledger
D)Cash
Q23: Source document for sales returns
A)Debit note
B)Credit note
C)Source
Q24: Petty cash book is prepaid under _
Q25: Special journal is also called
A)Journal proper
B)Subsidiary books
C)Original
Q27: Purchase ledger contains the accounts of
A)Debtors
B)Creditors
C)Total purchase
D)All
Q28: Allowance made for prompt payment is called
A)Cash
Q29: Sales ledger contains accounts of
A)Suppliers
B)Customers
C)Total sales
D)All the
Q30: Credit note is sent by
A)Seller
B)Customer
C)Buyer
D)Borrower
Q31: Total sales book indicates
A)Total credit sales
B)Total cash
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