Which of the following is correct?
Liabilities = Asset + capital
Asset= Liabilities - capital
Capital = Asset - Liabilities.
Capital= Assets + Liabilities.
Rs.25000/- paid for servicing the business lorry.
Vehicle maintenance account
Motor vehicle account
General expense account
Service account
The left hand side of an account is known as:
Right side
Left side
Debit side
Credit side
A cash book with cash, bank and discount column is commonly referred as:
Cash book
Two column cash book
Three column cash book
Petty cash book
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.
Rs 12000/- paid to buy mobile phone for sale.
Mobile phone account
Purchase account
Furniture account
Sales account
Accounting entries for recording the making of a loan to Mr. Ahmed, one of the managers.
Debit Ahmed's loan account and credit cash account
Debit cash account and credit Ahmed's loan account
Credit cash account and debit salaries account
Credit cash account and debit staff welfare account
Spot out the odd one.
Alex account
The account of limited company
The account of co-operative society
The account of school
