Multiple Choice
Debit balance of all personal accounts are collectively called
A) Sundry creditors
B) Sundry debtors
C) Personal account balance
D) Total of personal accounts
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Treatment of capital expenditure as revenue expenditure
Q9: Special journal is also called<br>A)Journal proper<br>B)Subsidiary books<br>C)Original
Q10: Transactions of a general nature which occur
Q11: Income received in advance by a business
Q12: Goods sold on credit will be entered
Q14: 1/6 profit on sales means _ on
Q15: Closing stock given in the trial balance
Q16: In non - profit organizations excess of
Q17: Accounting records transactions in term of<br>A)Commodity units<br>B)Production
Q18: Machinery purchased on account is recorded in<br>A)Journal<br>B)Ledger<br>C)Purchase