Decrease in the value of an asset on account of asset used in the business is
Income
Expenses
Stock
Gain
Capital expenditure is treated as an
Assets
Liabilities
Loss
The book keeping function is __________ in nature.
Routine
Clerical
Both a & b
Analytical
Business transactions may be classified into
Three
Two
One
Four
Credit transactions are also known as ______ transaction.
Barter
Paper
Non cash
None of these
Purchase of machinery is treated as
Capital expenditure
Revenue expenditure
Sales revenue
Revenue income
The old method of accounting is called
Margarita
Menagerie
Desi
Naoma
Expenses incurred for acquiring fixed assets
Normal expenditure
Different expenditure
The following is the purpose of financial accounting
To keep systematic records to know the financial performance.
To assist the management in taking rational policy decisions.
To evaluate the impact of its decisions.
Maintenance of records of business transactions is the _____________ objective of accounting.
Primary
Secondary
All of these
