Increase of capital is posted on the:
Expenditure side
Income side
Debit side
Credit side
On which side is increase of assets posted?
Debit
Credit
Liability
Expenditure
On which side increase of expenses are posted?
Income
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
Which of the following is correct?
Liabilities = Assets + capital
Assets = Liability - capital
Capital = assets - liabilities
Capital = assets + liabilities
Find the correct statement:
Credit a decrease in assets
Credit the increase in expenses
Debit the increase in revenue
Credit the increase in capital
Which is the book of original entry?
Journal
Cashbook
Purchase book
Sales book
_____________ is a list of all account balances.
Balance sheet
Trading account
Financial statement
Trail balance
Recording of transaction in the journal is called:
Casting
Journalising
Posting
Recording
In ____________ book, transactions are recorded in the chronological order.
Ledger
