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Q. Debit the receiver & credit the giver is _____ account.

Q. A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated.

Q. The debts which are to be repaid within a short period (a year or less) are referred to as,

Q. The transferring of debit and credit items from journal to the respective accounts in the ledger is called as

Q. Business enterprise is separate from its owner according to _____ concept.

Q. For every debit there will be an equal credit according to

Q. The basic sequence in the accounting process can best be described as: