Find out the disadvantages of double entry system
Comparative study
Legal approval
No guarantee
Little possibility of fraud
Received interest Rs 500. In this case interest is ___________ A\c.
Personal
Nominal
Real
None of these
Find out the drawing during the year from the following
Capital on 1-4-2004 70,000
Loss 7,000
Additional capital Introduced 10,000
Capital on 31-3-05 72,000
1,000
50,000
12,000
13,000
Find out which one of the following is intangible real account
Building
Goodwill a\c
Furniture
Land
Ram started business of cloth merchant on 1st January 2004 with a capital of Rs 2,20,000 and took loan from Bank amounting to Rs 80,000. His assets at the end of 2004 were Rs 3,40.000. Find out capital at the end of 2004.
Rs 2,20,000
Rs 2,60,000
Rs1,60,000
Rs 3,20,000
Commission received is an example of ____________ account.
Which of the following will cause owners equity to decrease?
Net income
Net loss
Revenue
Money includes __________.
Cash + Asset
Cash - asset
Cash - Liabilities
