A. $2000 will be debited in cash book
B. $2000 will be credited in cash book
C. $4000 will be debited in cash book
D. $4000 will be credited in the cash book
A. Posting
B. Entry making
C. Adjusting
D. Journalizing
A. Regular reduction of asset value to correspond to changes in market value as the asset ages
B. A process of correlating the market value of an asset with its gradual decline in physical efficiency
C. Allocation of cost in a manner that will ensure that Plant and Equipment items are not carried on the Balance Sheet in excess of net realizable value
D. Allocation of the cost of an asset to the periods in which services are received from the asset
i. Income received in advance ii. Stock iii. Debtors iv. Pre-paid expenses v. Accrued income A. Both (i) and (iv) above
B. Both (ii) and (iii) above
C. (i),(ii) and (iii) above
D. (ii),(iii),(iv) and (v) above
A. Interest Rate
B. Required rate of return
C. Nominal interest rate
D. All of the above
A. Valuation
B. Valuation and allocation
C. Allocation
D. Appropriation
A. Errors of casting
B. Errors of carry forward
C. Errors of posting
D. All the three
A. Replacement cost – Accumulated Depreciation
B. Historical cost – Salvage Value
C. Historical cost – Depreciation portion thereof
D. Original cost adjusted for general price-level changes
A. Simple cash book
B. Two column cash book
C. Three column cash book
D. Petty cash book
