For the following questions answer them individually
Which of the following statements is INCORRECT in the context of accounting concepts?
Which of the following errors will reflect in the trial balance?
Which of the following is NOT a business transaction?
Which of the following accounts will typically have a debit balance in the trial balance?
Depreciation is not impacted on things like scissors, pencil and these are considered as a expenditure for the company. This statement is related to which accounting standard?
Which of the following costs is NOT included while calculating the cost of the inventory?
In case a Provision for Depreciation Account is NOT maintained, the correct journal entry for recording the amount of depreciation is:
Match the following.
Which of the following statements is true?
When an income is received in advance, the treatment in the Profit & Loss account and balance sheet, respectively, will be: