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Q. If closing stock is mentioned in trial balance,Where is it shown in Final Accounts?

Q. Trial balance is not a conclusive proof of accuracy due to which errors. I)Error of omission II)Error of Principle III)Error of Commission IV)Compensatory Errors

Q. The elements of the accounting equation are

Q. Goods destroyed by fire should be credited to

Q. What are the causes of depreciation?

Q. Machinery purchased on 1 Oct,2016 for 40,000.This machinery was sold on Dec 2017.Calculate the total depreciation charged on machinery till date if co charges 10% as per WDV method if accounts are closed on 31st March every year.

Q. The expenses due but not paid is known as -

Q. Which one is false. I)Capital Expenditure is non recurring in nature and shown in P&L account. II)Revenue expenditure is incurred to conduct day to day activities

Q. When Salary is paid by cheque, which account is credited.

Q. The respective normal account balances of Sales, Sales Returns , and Discounts allowed are?