Paid salary to Madan, from this transaction How many accounts involved ?
Only one
Two
Three
None of the above
Every Journal entry is followed by a short description of the transaction. This is called ________.
Short description
Explanation
Journalising
Narration
For recording Depreciation, related Asset Account is _____.
Debited
Credited
Both a & b
Paid salary to Madan, in this transaction which account should be ignored ?
Personal A/c
Real A/c
Nominal A/c
Charity in the form of goods, in this transaction which account is debited ?
Purchase A/c
Sales A/c
Charity A/c
Goods A/c
Received commission, in this transaction how many transaction involved ?
Goods given as free samples Rs. 1500 which A/c will be debited.
Cash A/c
Advertising A/c
Which discount induce the debtor for prompt payment ?
Trade discount
Cash discount
Based on accounting equation increase in incomes are _______.
Debit
Credit
Expenses which have become due and have not been paid at the end of accounting year are called _______.
Bad debts
Outstanding expenses
Prepaid expenses
Interest
