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Q. The elements of the accounting equation are

Q. Which is correct. I)Dr. the receiver,Cr. the Giver II)Dr. what goes out,Cr. what comes in III)Dr. all Expenses,Cr.All Losses

Q. 2 oct Opening balance=200 units @Rs 15 each, 4 Oct:Purchase=500 units @Rs 10 ,5 Oct Sales=600 units.What will be Closing Inventory value (in Rs) as per LIFO Method?

Q. What are the causes of depreciation?

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

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

Q. Arun is a Book-seller, which item will be goods for his business ?

Q. What are the two statements prepared for summarising the transactions? I)Balance Sheet II)Journal III)P&L IV)Cash Book

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