Increase of revenue is posted in the:
Expenditure side
Income side
Debit side
Credit side
Which side posting of liability results in an increase in liability?
Debit
Credit
Expenditure
Income
Cash withdrawn by the proprietor should be credited to:
Drawings account
Capital account
Profit and loss account
Cash account
A purchase of machine for cash should be debited to:
Machine account
Purchase account
Assets
In which book, transactions are recorded in the chronological order?
Journal
Ledger
Balance sheet
None of these
How many sides does an account have?
Two
Three
One
Four
Recording of transaction in the journal is called:
Casting
Journalising
Posting
Recording
Which side of posting assets increases assets?
Liability
Which side posting of expenses increases expenses?
Decrease of capital is posted in the: