Increase of capital posted in the:
Expenditure side
Income side
Debit side
Credit side
Which is the books of original entry?
Journal
Cashbook
Purchase book
Sales book
Whatis a list of all account balances?
Balance sheet
Trading account
Financial statement
Trail balance
Which side posting of liability results in an increase in liability?
Debit
Credit
Expenditure
Income
Find the correct statement:
Credit an increase in assets
Credit an increase in expenses
Debit an increase in revenue
Credit an increase in capital
A purchase of machine for cash should be debited to:
Cash account
Machine account
Purchase account
Assets
Voucher is prepared for:
Cash received and paid
Cash/credit sales
Cash/credit purchase
All of the above
Recording of transaction in the journal is called:
Casting
Journalising
Posting
Recording
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
In which book, transactions are recorded in the chronological order?
Ledger
