Choose the true statement-
A) Income and gain A/cs shows increase on credit side
B) Expenses and losses A/cs shows reduction in balance on debit side
C) Assets A/c can have credit balance also .
D) Debtors are the owing of the business
Correct Answer:
Verified
Q24: Over statement of sales may lead to-
A)Over
Q25: When Bills Receivable is returned dishonoured by
Q26: A second hand truck was purchased for
Q27: Narrations are usually given at the end
Q28: Under which method of depreciation annual depreciation
Q30: Which of these is an example of
Q31: Which of these items will not be
Q32: On the debit side of a Sales
Q33: The term Imprest system is related to………
A)Petty
Q34: An office equipment is purchased on 1.1.12
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