Find out the causes of popularity of double entry.
No accuracy before making of trial balance
Preparation of trial balance
Not suitable for small business
All of the above
Every transaction changes:
The assets
Liabilities
Capital
Either or all of these
Accounting entries for recording the making of a loan to Mr. Ahmed, one of the Managers.
Debit Ahmed's loan account and Credit cash account
Debit cash account and Credit Ahmed's loan account
Credit cash account and Debit salaries account
Credit cash account and Debit staff welfare account
Rs 5,00,000/- paid to acquire a lorry for business use.
Capital account
Motor vehicle account
Transport account
Drawings account
Rs.25000/- paid for servicing the business lorry.
Vehicle maintenance account
General expense account
Service account
The right side of an account is known as:
Right
Left
Debit
Credit
