The normal balance of liability account is____________??
A. Debit balance
B. Credit balance
C. Cash balance
D. Neither debit nor credit balance
B. Credit balance
C. Cash balance
D. Neither debit nor credit balance
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October
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- Total depreciation of an asset cannot exceed its:?
- A chart of accounts generally start with which of ...
- Discount for quick repayment of debt is normally r...
- Which of the following accounts will be credited i...
- Journals are also referred as_____________??
- Which of the following will be debited if a busine...
- In which of the following orders data is entered i...
- The standard format of journal does not include wh...
- _________ is the evidence that a transaction took ...
- Discount allowed is___________??
- A journal entry in which two or more account is de...
- Goods returned by customer should be debited to wh...
- Discount allowed is a kind of deduction from______...
- The other name of journal is____________??
- Every business transaction affects at least ______...
- General journal is a book of _______ entries??
- The process of recording transactions in different...
- Assets-Liabilities=____________??
- The process of recording is done??
- Current assets – Current liabilities=??
- An increase in provision for bad debt will________...
- Depreciation decreases____________??
- If Cash=$1000 inventories=$4000 Debtors=$5000 fixe...
- Which of following best describes the increase in ...
- Fresh capital introduction will increase__________...
- Which of the following accounting equation is corr...
- Payment of expenses will ______ the assets?
- Net income equal to Revenues minus____________??
- If the business’s owner withdraws cash for his/her...
- If the total liabilities of a business decrease by...
- The Basic accounting equation is___________??
- Find out the value of assets if: Liabilities=$5000...
- Capital of a business decreases if there is an inc...
- Capital increases if _________ increases??
- Which of the following is the closing balance of a...
- Which of the following accounts are closed at the ...
- Which of the following is a real account??
- Office equipments account is classified as _______...
- Which of the following is the normal balance of a ...
- Which of the following statements is incorrect reg...
- The normal balance of asset account is____________??
- The normal balance of liability account is________...
- The normal balance of capital account is__________...
- If debit balance is greater than creadit balance t...
- Which of the following is known as the base for pr...
- _________ will be credited if goods are given as c...
- If credit side of a bank account is greater than t...
- An account records the ___________ in the balance ...
- Which of the following is the practical implementa...
- Transferring entries from journal to ledger accoun...
- Identify the nominal account?
- Identify the nominal account?
- Double entry implies that?
- _______ the withdrawal of cash and goods by the ow...
- Net loss occurs when______________??
- Identify the asset from the following:?
- What is equity??
- Which of the following is a liability??
- What is the basic accounting equation??
- Which is the most important characteristic that al...
- Which of the following can be considered as the mo...
- The gross decrease in economic benefits for the bu...
- Liability are arisen from which of the following e...
- ________ is the gross inflow of economic benefits??
- Liabilities are which of the following??
- Keeping the log of financial information in books ...
- ________ is a separate legal entity that Total cap...
- For which step of accounting process the accountan...
- Bookkeeping mainly concerns with which part of acc...
- Financial accounting provides financial informatio...
- Identify the correct sequence of accounting process?
- In accounting an Economic event is referred to as:?
- Credit memo or credit note No. is entered in which...
- Specialized journals are more adequate for which T...
- BUSINESS paid rent amounting to $100″ which of the...
- Which of the following is known as an evidence tha...
- Debit note is the basis for recording a transactio...
- Credit note is the basis for recording a transacti...
- Credit purchase of plant and machinery is recorded...
- A brief explanation recorded below every entry in ...
- Cash purchases is recorded in which of the followi...
- Which of the following is a type of cash receipt j...
- Cash received from debtor is recorded in which of ...
- Which of the following specialized journals record...
- Sales and purchase journal don’t record__________??
- Which of the following specialised journals will r...
- Which of the following account with normal balance...
- Transactions that a BUSINESS doesn’t record in any...
- Another name of journal is_____________??
- A sale of Rs. 50.000 to A was entered as a sale to...
- If debit balances = credit balances, trial balance...
- Trial balance is commonly prepared??
- Debit balance = Credit balance in a trial balance ...
- Which of the following is true about a trial balan...
- If a transaction is completely omitted from the bo...
- ________ is the common base for preparing a trial ...
- Trial balance is prepared to check accuracy of____...
- Institute of Chartered Accountants of Pakistan was...
- Goods sent on approval basis’ have been recorded a...
- The systems of accounting are _____________??
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October
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A. Office equipment B. Rent expenses C. Rent income D. Insurance expense
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A. Asset=Expense Income B. Assets=Cash Capital C. Assets=Capital Liabilities D. Assets=Expenses Capital
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(assuming the amount of capital remain same) A. Remain constant B. Decrease by $5000 C. Increase by $5000 D. Increase by $10,000
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