____________ refers to the entire body of the theory and practice of accounting.
Accountancy
Book keeping
Arithmetic
None of these
Depreciation is called
Income
Assets
Liability
Expenses
Sale of goods on credit is an example of ___________ transaction.
Cash
Barter
Non cash
Paper
The excess of expenses is called
Profit
Capital
Loss
Discount
Decrease the value of an asset on account of asset used in the business is known as
Depreciation
Drawings
A debtor constitutes _______ for the business.
Asset
Liabilities
Both a and b
Which is the benefit of expenditure is exhausted within a year?
Revenue expense
Revenue expenditure
Revenue Income
Sales revenue
Book keeping is an art of recording _____________in the book of account.
Business transaction
Social transaction
Individual transaction
All those expenditures which are incurred for acquiring fixed assets are termed as
Capital expenditure
Both a &b
which one of the following is the Internal event?
Supply of raw material
Sale of Reebok shoes to the customers.
Payment of monthly rent to the landlord
Purchase of materials from suppliers.
