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Q. Rs 280 received from Roy is credited to his account as Rs 208,this error is called

Q. In the case of net worth method of single entry system, the net profit is ascertained by

Q. Issue of shares at a price lower than its face value is called :

Q. Royalty is an income to lessee Sol:

Q. The public hospitals do not carry the activities with an intention of earning profits. Sol:

Q. Sales are equal to

Q. If Machinery Account is debited with the amount of repairs incurred on the machine, this is an example of

Q. Goodwill is defined as Sol:

Q. Unearned income is a

Q. Following records are made in single entry system , give correct answer