Accounts - Principles of Accounts Questions
Question 1706:
The loss made by a non-trading organization is called
- A Surplus
- B Drawing
- C Deficit
- D Shortage
- E Discount
Question 1707:
Errors in the ledger can be corrected through
- A Journal proper
- B Sales day book
- C Purchases day book
- D Control account
Question 1708:
Item in the bank statement of a business but not in the Cash Book before preparation of bank reconciliation statement do not include
- A Bank charges
- B Standing order
- C Presented cheque
- D Interest overdraft
Question 1709:
Discount received is
- A Credited to the trading account
- B Debited to the Profit and Loss Account
- C Credited to the Profit and Loss Account
- D Credited to the Appropriation Account
Question 1710:
Carriage outwards is charged to
- A Credited to the trading account
- B Debited to the profit and loss account
- C Credited to the profit and loss account
- D Credited to the appropriation account