Sr. # | Questions | Answers Choice |
---|---|---|
1 | Business debts are known as | Liabilities Expenses Assets Owner's |
2 | Journal is prepared in | Columnar form Vertical form Horizontal form Raw form |
3 | Bill receivable and debtor are | Long term assets Fictitious assets Fixed assets Current assets |
4 | Furniture and machinery represent | Fixed assets Fictitious assets Current assets Intangible assets |
5 | Accounting principle are generally based on | Theory Subjectively Practicability None of these |