Multiple Choice
In income & Expenditure accounts, we record
A) Items of capital nature alone
B) Items of revenue nature alone
C) Both
D) Items of expenditure
Correct Answer:

Verified
Correct Answer:
Verified
Q36: Loss of cash by theft committed by
Q37: _ is an expenditure which does not
Q38: Collection of all accounts us called<br>A)Trial balance<br>B)Journal<br>C)Ledger<br>D)Cash
Q39: Total sales book indicates<br>A)Total credit sales<br>B)Total cash
Q40: Trading account is a _ account<br>A)Personal<br>B)Real<br>C)Nominal<br>D)Expenses
Q42: Normally value of closing stock _ in
Q43: Sales return account is a _ account<br>A)Personal<br>B)Nominal<br>C)Real<br>D)Current
Q44: In sole trader balance sheet asset are
Q45: 'Every debit has a corresponding credit' it
Q46: Cash purchase of fixed asset is entered