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Q. The process of transferring the debit and credit items from a journal to their respective account in the ledger is termed as?

Q. According to which principle the same accounting methods should be used each year:

Q. What is the formula for calculating depreciation in SLM Method?

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

Q. 1 oct Opening balance=400 units @Rs 20 each, 3 Oct:Purchase=300 units @Rs 10 ,5 Oct Sales=500 units.What will be total Sales value(in Rs) as per FIFO Method?

Q. Where do we show Provision of bad debts in final accounts if given in adjustments? I)Debit side of P&L II)Credit side of P&L III)Deduct from Debtors in Balance Sheet IV)Add to Debtors in Balance Sheet

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

Q. The elements of the accounting equation are

Q. When proprietor withdrew cash from business for personal use , it is known as -

Q. Goods destroyed by fire should be credited to