A. Assets side
B. Liability side
C. Profit & Loss A/c
D. Debited to Capital A/c
Correct Answer: Assets side ✔
Last Updated: August 10, 2017
Related MCQs
- Cost of goods sold excludes__________?
- When a person purchasing goods on credit he becomes a_________in the books of the seller?
- The entry for creating a Provision for bad debts is__________?
- Bad debts recovered account will be transferred to__________?
- __________is also known as Appraisal system of depreciation?
- Which of the following is not depreciated?
- Which of the following is an external cause of depreciation?
- Depreciation is calculated on the__________?
- Which of the following statements is correct about Depreciation?
- In which of the following methods, the cost of the asset is spread over in equal proportion during its useful economic life?
- Which of the following factors are primarily considered to determine the economic life of an asset?
- The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?
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Which of the following statements is true with regard to written down value method of depreciation?
i. The rate at which the asset is written off reduces year after year
ii. The amount of depreciation provided reduces from year to year
iii. The rate of depreciation as well as the amount of depreciation reduce year after year
iv. The value of the asset gets reduced to zero over a period of time - The portion of the acquisition cost of the asset yet to be allocated is known as__________?
- Depreciation is a process of__________?
- The main objective of providing depreciation is to?
- Which of the following statements best describes the purpose of depreciation?
- Which of the following is true with respect to providing depreciation under diminishing balance method?
- A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?
- A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car?
- Which of the following is not a method of charging depreciation?
- Provision is created for__________?
- Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book__________?
- Debit balance as per bank pass book mean__________?
- Benefits of preparing Bank Reconciliation Statement includes__________?
- Bank reconciliation statement is a part of_________?
- Bank reconciliation is a statement prepared to reconcile__________?
- The Bank Reconciliation Statement is prepared?
- Difference in Bank Balance as per Pass Book and Cash Book may arise on account of__________?
- Debit side of Bank Pass book corresponds to__________?
- Credit balance as per Cash Book mean__________?
- Which of these items are taken into consideration for preparation of adjusted Cash Book
- Which of these documents is not required for Bank Reconciliation?
- Generally the term fund is used to mean the difference between?
- Cash received from debtors would be deemed as__________of funds.
- Expenses of the following nature are treated as a Revenue expenses except__________?
- Which of these types of expenditure would not be treated as a Capital Expenditure?
- Which of the following is a capital expenditure?
- Which of the following is a revenue expenses?
- Revenue is generally recognized as being earned at that point of time when?
- Revenue receipts are shown in__________?
- Capital expenses are shown in__________?
- The periodic total of purchase day book is posted to__________?
- The periodic total of sales day book is posted to__________?
- Which of these is not a special purpose journal?
- A book wherein various accounts are opened is called__________?
- Posting is the process of__________?
- Goodwill A/c is a/an__________?
- Which of the following is a Nominal A/c ?
- Which of the following is a representative Personal A/c?
- Which of the following is a Real A/c?