Accounting - Practice Test

(A) Credited to the respective partner's capital account

(B) Debited to the respective partner's capital account

(C) Credited to profit and loss account

(D) Debited to profit and loss account

(D) Debited to profit and loss account

(A) Rs. 15,00,000

(B) Rs. 5,00,000

(C) Rs. 22,00,000

(D) Rs. 2,50,000

(B) Rs. 5,00,000

(A) Cost incurred for a new exit as required under the local bodies, by laws

(B) Interest paid on loan during the construction of works

(C) Cost of pulling down on old building as also the payment made to the architect for the plan of a new building

(D) A dealer in purchases sewing machines and spends some money on the repair of the machines damaged while goods in transit

(A) Cost incurred for a new exit as required under the local bodies, by laws

(A) Ledger

(B) Balance Sheet

(C) Journal

(D) Profit and Loss Account

(C) Journal

(A) Deferred Revenue Expenditure

(B) Revenue Expenditure

(C) Capital Expenditure

(D) Common Expenditure

(B) Revenue Expenditure

Accounting - Study Mode