A. Debit P
Related Mcqs:
- The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to?
- Choose the correct statement in respect of die casting machine
- It is possible to date the rocks by comparing the amount of specific radioactive isotopes they contain. Which of the statement is correct in this respect??
- The accountant of Leo Ltd. recorded a payment by cheque to a creditor for supply of materials as 1,340.56. The bank recorded the cheque at its correct amount of 3,140.56. The Company has not passed any rectification entries and the error is not detected through the bank reconciliation. The impact of this error is?
- A chart of accounts generally start with which of the following types of accounts??
- For the past 3 years, DK Ltd. has failed to accrue unpaid wages earned by workers during the last week of the year. The amounts omitted, which were considered material, were as follows:?
- Debts which are payable in the course of a month are called _____________??
- If actual bad debts are more than the provision for bad debts, then there will be a_____________??
- The amount payable to a person as consideration for the use of rights vested in him is?
- The entry for creating a Provision for bad debts is_____________??
