Voucher is prepared for:
Cash received and paid
Cash/credit sales
Cash/credit purchase
All of the above
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 side posting of revenue results in decrease of revenue?
Debit
Credit
Income
Expenditure
Which of the following is correct?
Liabilities = Assets + capital
Assets = Liability - capital
Capital = assets - liabilities
Capital = assets + liabilities
Voucher is prepared from:
Documentary evidence
Ledger account
Whatis a list of all account balances?
Balance sheet
Trading account
Financial statement
Trail balance
Which is the books of original entry?
Journal
Cashbook
Purchase book
Sales book
A purchase of machine for cash should be debited to:
Cash account
Machine account
Purchase account
Assets
Which side posting of assets decreases assets?
Find the correct statement:
Credit an increase in assets
Credit an increase in expenses
Debit an increase in revenue
Credit an increase in capital
