Entry representing the reversal or cancellation of an entry on the other side is called?

Related MCQs

• The process of balancing of an account involves equalization of both sides of the account. If the debit side of an account exceeds the credit side, the difference is put on the credit side. The said balance is (i) A Debit balance (ii) A Credit balance (iii) An expenditure or an Asset (iv) An Income or a Liability
• Return of shares voluntarily by a shareholder to the company for cancellation is called:
• Entries come both on the debit side and credit side of cashbook called
• When own debentures are cancelled, any profit on cancellation is transferred to ……..
• In an account if debit side > credit side, the balance is known as the:
• On the debit side of a Sales A/c entry can be for which of these reasons
• The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to
• The term "compound entry" means that the journal entry has
• Procedure of conversion of Single entry books into Double entry
• The debit side discount column of three column cash book is called?