Find out the secondary objectives of accounting.
To maintain records of business transaction
To ascertain of profit or loss
To depict of financial position
To know about the errors and frauds of the employees.
A written document in support of a transaction is called __________.
Receipt
Credit note
Vouchers
None of these
_____________is the art of recording business transaction.
Book keeping
Accountancy
Accounting
A book in which transaction is written first is known as _________.
Journal
Entry
Ledger
Account
Revenue income of proprietors capital and loan are not treated as __________.
Expenditure
Asset
Revenue
Liabilities
Long term liabilities are also known as ___________ liabilities.
Short term
Current
Fixed
An event in the recognition of which gives rise to an entry in books of accounts is called ____________ transaction.
Legal
Illegal
Business
Professional
