Double entry system was propounded by
A) Chanakya
B) Lee
C) Confucius
D) Luca Pacioli
Correct Answer:
Verified
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
Q17: In income & Expenditure accounts, we record
A)Items
Q19: Fixed assets purchased on hire purchased on
Q20: Treatment of capital expenditure as revenue expenditure
Q21: In non - profit organizations excess of
Q22: Collection of all accounts us called
A)Trial balance
B)Journal
C)Ledger
D)Cash
Q23: Source document for sales returns
A)Debit note
B)Credit note
C)Source
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