For the following questions answer them individually
Which of the following statements is correct in the context of single-entry system?
A credit balance in the bank passbook indicates a/an ____ balance, and debit balance in the cash book
indicates a/an ___ balance.
A firm purchased land by paying entire money to the seller. However, still legal proceedings are remaining. As per which principle firm can show this transaction in accounts without the completion of legal proceedings?
Calculate the profit by the method of statement of affairs with the help of the below given data.
Mr. A is the owener of one general store. He is not using dual system account. Capital at 31st march 2020 was Rs. 75000. He took Rs. 12000 for his person use. He invested new capital of Rs. 12500. On 31st march 2021, total libability is Rs. 90000, total asset is Rs. 126500, stock value is Rs. 24570 and in bank Rs. 25000 cash.
Which of the following statements is correct in the context of a trading account?
Which of the following statements is INCORRECT for self-balancing ledgers?
which of the following statements is INCORRECT in the context of a journal?
In balance sheet, when finance are at top level and current liabilities at the bottom level. What is said this thing.
Which of the following is/are control account(s) maintained in the self-balancing ledger system?
(i) Bought ledger adjustment account
(ii) Sales ledger adjustment account
(iii) General ledger adjustment account
Paying a bill before due date is called _____________
