Payment of rent expenses is recorded on which side of cash book?
Receipts
Payments
Income
Expenses
Every transaction changes:
The assets
Liabilities
Capital
Either or all of these
The left hand side of an account is known as:
Right side
Left side
Debit side
Credit side
Advantage of double entry system are:
Scientific system
Knowledge of financial position
Knowledge about different account
All the above
Rs 12000/- paid to buy mobile phone for sale.
Mobile phone account
Purchase account
Furniture account
Sales account
According to the rules of debt and credit, on what side the increase of rent paid account will be recorded?
Debit
Credit
Both a and b
It is not recorded.
Which one is the advantage of double entry system?
Lack of arithmetical accuracy
Incomplete record of transaction
No accuracy before making of trial balance
Preparation of trading and profit and loss account
