Favorable balance of bank statement implies that?
A. Credit balance
B. Debit balance
C. Bank overdraft
D. Adjusted balance
A. Credit balance
B. Debit balance
C. Bank overdraft
D. Adjusted balance
A. Asset side
B. Liability side
C. Netted from Capital
D. Profit
A. Credit sales
B. Credit purchases
C. Credit sales and purchases
D. Cash sales and purchases
A. Entering wrong amount in the subsidiary book affects the agreement of the Trial Balance
B. Undercasting or overcastting of a subsidiary book is an example or error of commission
C. Errors of principle do not affect the agreement of Trial Balance
D. Both
B. and
C. above
A. Receipts
B. Payments
C. Incomes
D. Expenditures
A. Drawings
B. Income
C. Gains
D. Fresh capital
A. General Reserve A/c
B. Profit
A. Two
B. Three
C. Five
D. Six
A. Balance Sheet discloses financial position of the business
B. A person who owes to the business is called Debtor
C. Decrease in the value of the asset could decrease the value of a liability
D. Assets are to be shown in the Balance Sheet at the realizable value
A. Variable cost
B. Unit cost
C. Total cost
D. Fixed cost