Accounting MCQs

The proprietor of a business is treated as a creditor for capital introduced by him according to:

Rs. 10,000 spent on the replacement of worn-out parts of an electronic machinery is treated as:

Which of the following books should be used to record purchase of furniture on credit?

The cash book records:

Overcasting of purchases journal would affect . . . . . . . .

Rs. 19,500 debited to building repairs on 31st December 1993 included Rs. 9,500 as the cost of building a small room for the watch man. A bill of Rs. 800 for colour wash of the whole building during the year was not received till 1993 December. The amount to be debited to profit and loss account would be:

Assets which do not carry more than normal credit risk is known as . . . . . . . .

In book-keeping posting means:

Subscriptions for the current year received during the current year are to be . . . . . . . .