General donations of relatively large amount is recorded on the

Related MCQs

• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting
• If any transaction is not recorded in the primary books the same is recorded in _______
• Donations received for a special purpose will be taken to the
• Donations received for a special purpose are
• In case specific fund is maintained, the expenses exceeding the amount of the fluids, should be recorded on:
• In case specific fund is maintained, the expenses exceeding the amount of the funds, should be recorded on:
• When a machinery is purchased for cash, the cash balance is reduced and to that extent, the amount of machinery as an asset is recorded. This is done to follow which of the following accounting principles:
• Transactions of a general nature which occur frequently are first recorded in the
• Which of the following statements is true with regard to written down value method of depreciation? i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of time
• If a fixed amount is withdrawn on the first day of every month of calendar year by a partner in partnership firm, then for what period the interest on the total amount of drawings will be calculated?