A. Written down to zero or its scrap value
B. Shown in the Balance Sheet at its replacement cost
C. Shown in the Balance Sheet at cost, but classified as a non-current asset
D. Carried in the accounting records at cost until it is sold
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
A. Decrease net income
B. Decrease liabilities
C. Increase net income
D. Increase liabilities
A. It lists down the balances of accounts
B. It lists down the balances of a balance sheet
C. It is a kind of financial statement
D. It is not a part of accounting cycle
A. Debit Provision for Bad Debts A/c and credit Debtors A/c
B. Debit Debtors A/c and credit Provision for Bad Debts A/c
C. Debit Provision for Bad Debts A/c and credit Profit
A. Discount
B. Cash discount
C. Allowance
D. Trading discount
A. Inventory system
B. Survey system
C. Annuity system
D. Insurance
A. Raw material consumed
B. Plant purchased
C. Long term loan raised from bank
D. Share Capital
A. Fictitious assets
B. Quick asset
C. Real asset
D. Outstanding asset
(a). Sales of `950 to Ram completely omitted from books of account (b). Purchases of `720 from Shyam entered in the purchases journal as `700 (c). Purchases Journal is overcast by `1,000 (d). Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal’s account (f) Bank overdraft shown under debit column in the Trial Balance (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq (h) Wages paid for installation of machinery debited to wages account A. a, c and g
B. c, d and f
C. c, d, e and h
D. c, d, f and h
