1. ————deals with depreciation account. (a)  AS 3  (b)  AS 4 (c)  AS5  (d)  AS6     Click Here for Answer    Answer - (d)     2. Journal i…

1. The capital of the proprietor increases when the business  makes.................... (a)  revenue  (b)  income (c)  loss  (d)  profit     …

1. A purchase book is used to record all ......................made by the  business from its suppliers. (a)  purchases  (b)  credit purchases (c)…

1. Which one is capital loss? (a)  interest paid on debentures, (b)  redemption of debentures at par, (c)  underwriting commission (d)  None of…

1. Double entry system refers to (a)  entry in two sets of books (b)  entry for two aspects of the transaction (c)  entry at two dates (d)  non…

1.  Creditors account is a (a)  Personal account  (b)  Real account (c)  Nominal account  (d)  None of the above.     Click Here for Answer …