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Q. The process of transfer of entries from day book to ledger is called as

Q. The Depreciation Account is closed at the end of the year by transfer to the

Q. When credit balance as per pass book is the starting point of a Bank Reconciliation Statement then bank charges are

Q. The original cost of the machine is 19,00,000; machine installation charges are 1,00,000; working life of the machine is 5 years and residual value is 40,000. If the depreciation is charged on Straight Line basis then 4th year’s depreciation will be:

Q. What is the nature of joint venture with co-venture account?

Q. Which of the following account(s) is (are) maintained in the joint venture when separate set of books are maintained?

Q. At the en d of the accounting year bills receivable discounted were 32,000 would be shown

Q. At the time of preparation of financial accounts, balance of Bad Debts Recovered Account will be transferred to

Q. A debit note issued to a creditor for goods returned is to be recorded in the

Q. Whenever errors are noticed in the accounting records, they should be rectified.