Goods distributed as free samples is debited to
A) Advertisement A/c
B) Charity A/c
C) Purchases A/c
D) Goods A/c
Correct Answer:
Verified
Q39: An ink-stand has been purchased by a
Q40: When a machinery is purchased for cash,
Q41: Rules of revenue recognition determine that earning
Q42: Value of goods withdrawn by the proprietor
Q43: M/s Stationery Mart will debit the purchase
Q45: Journal entry for wages paid Rs. 5,000
Q46: Interest of Drawings is:
A)Expenditure for the business
B)Expense
Q47: Drawings account is the nature of
A)Personal Account
B)Real
Q48: Outstanding Salaries are shown as:
A)An Expense
B)A Liability
C)An
Q49: Income tax paid by a sole proprietor
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