Exam 23: Accounting Concepts and Practices

Gross assets - liabilities will be equal to

In accounting only ________ discount is recorded

Double entry system was propounded by

Discount on issue of share is

Trial balance will detect

Credit note is sent by

Asset which reduce is value, on use, but are not replaced is called

Petty cash book is prepaid under ______ system

Debit note is prepared in connection with

Sale of grass in the case of a sports club is

Fixed assets purchased on hire purchased on hire purchase terms are recorded at

Prepaid expenses are ______ account

Expenditure incurred by a publisher for acquiring copyright is a.

The error disclosed by Trial Balance is

Total sales made during a year is found out from the

Loss of cash by theft committed by cashier after business hours is a

________ is an expenditure which does not bring any benefit to the concern

Collection of all accounts us called

Total sales book indicates

Trading account is a _______ account