Machinery purchased on account is recorded in
A) Journal
B) Ledger
C) Purchase book
D) Cash book
Correct Answer:
Verified
Q6: An expenditure incurred to derive long term
Q7: In accounting only _ discount is recorded
A)Trade
B)Cash
C)Real
D)None
Q8: Debit balance of all personal accounts are
Q9: Discount on issue of share is
A)Capital loss
B)Revenue
Q10: Trial balance will detect
A)Errors of commission
B)Errors of
Q12: The error disclosed by Trial Balance is
A)Wrong
Q13: Cash discount is allowed by
A)Wholesaler
B)Debtor
C)Creditor
D)Retailer
Q14: Rent prepaid is
A)Assets
B)Liability
C)Income
D)Expense
Q15: Closing stock given in the trial balance
Q16: Sale of grass in the case of
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