A monetary benefit that arises from transaction of non-operating in nature is called __
Anonymous Quiz
20%
Income
61%
Gain
16%
Profit
3%
Loss
The rule 'Debit the Receiver, Credit the Giver' is applicable to ___
Anonymous Quiz
16%
Nominal Account
24%
Real Account
49%
Personal Account
12%
All of the above
A concept that a business enterprise will not be sold or liquidated in the near future is known as ___
Anonymous Quiz
58%
Going Concern
24%
Consistency
7%
Prudence
12%
Accounting Period Concept
Depreciation is provided due to ___
Anonymous Quiz
6%
Inflation
58%
Wear and Tear
28%
Fall in the market value of the asset
8%
Increase in the market value of the asset
Any written evidence in support of a business transaction is called ____
Anonymous Quiz
25%
Journal
11%
Trial Balance
5%
Ledger
60%
Voucher
Errors not shown by Trial Balance are ___
Anonymous Quiz
10%
Errors of Principle
37%
Errors of Complete Omission
18%
Compensating Errors
34%
All of these
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Payment to a creditor means _____
Anonymous Quiz
28%
Increase in asset and decrease in liability
59%
Decrease in asset and decrease in liability
11%
Decrease in asset and increase in liability
2%
Increase in asset and increase in liability
Closing Stock is entered in _____
Anonymous Quiz
25%
Trading A/c
17%
Balance Sheet
54%
Both (a) and (b)
4%
None of the above