Increase of capital is posted on the:
Expenditure side
Income side
Debit side
Credit side
Which of the following is correct?
Liabilities = Assets + capital
Assets = Liability - capital
Capital = assets - liabilities
Capital = assets + liabilities
Recording of transaction in the journal is called:
Casting
Journalising
Posting
Recording
Increase of revenue is posted on the:
Voucher is prepared from:
Documentary evidence
Journal entry
Ledger account
All of the above
On which side is increase of assets posted?
Debit
Credit
Liability
Expenditure
In ____________ book, transactions are recorded in the chronological order.
Journal
Ledger
Balance sheet
None of these
When the number of accounts to be debited or credited is more than one, entry made for recording the transaction is called _________.
Compound Journal entry
Narration
_____________ is a list of all account balances.
Trading account
Financial statement
Trail balance
On which side is decrease of liability posted?
Income