Wages paid on for the erection of machinery is debited to
A) Machinery accounting
B) Wage accounting
C) Cash accountin
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Q55: Nominal accounts are related to
A)Assets& liability
B)Expenses &
Q56: Sales journal is used for recording
A)Cash sales
B)Credit
Q57: Trading account is a _account
A)Real
B)Nominal
C)Persona
Q58: Closing stock is valued at _
A)Market price
B)Cost
Q59: Balance sheet is an _
A)Statement
B)Account
C)Bot
Q61: Income tax is debited to _
A)Profit and
Q62: Goods taken by the proprietor for personal
Q63: Asset that can be converted into cash
Q64: Balance sheet is prepared for a _
A)Period
B)On
Q65: Income received in advance is an _
A)Asset
B)Liability
C)Expense
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