On which side is increase of liability posted?
Debit
Credit
Expenditure
Income
Which is the book of original entry?
Journal
Cashbook
Purchase book
Sales book
When the number of accounts to be debited or credited is more than one, entry made for recording the transaction is called _________.
Journal entry
Compound Journal entry
Narration
None of these
On which side increase of expenses are posted?
On which side is decrease of liability posted?
On which side is decrease of assets posted?
In ____________ book, transactions are recorded in the chronological order.
Ledger
Balance sheet
Voucher is prepared for
Cash received and paid
Cash/credit sales
Cash/credit purchase
All of the above
_____________ is a list of all account balances.
Trading account
Financial statement
Trail balance
Decrease of capital is posted in
Credit side
Expenditure side
Income side
Debit side