Rs.25000/- paid for servicing the business lorry.
Vehicle maintenance account
Motor vehicle account
General expense account
Service account
Payment of rent expenses is recorded on which side of cash book?
Receipts
Payments
Income
Expenses
Rs 12000/- paid to buy mobile phone for sale.
Mobile phone account
Purchase account
Furniture account
Sales account
Every business transaction affects at least two accounts or two sides and accordingly records the transaction in two related heads of accounts is known as:
Single entry system
Double entry system
Barter system
Transaction system
Pick up the odd one.
Trade mark
Patents account
Goodwill
Cash
Spot out the odd one.
Alex account
The account of limited company
The account of co-operative society
The account of school
Which of the following is correct?
Liabilities = Asset + capital
Asset= Liabilities - capital
Capital = Asset - Liabilities.
Capital= Assets + Liabilities.
