The principle “Debit the receiver and credit the giver” is related to_____

Related MCQs

• Debit the receiver & credit the giver is _____ account
• The rule debit all expenses and losses and credit all income and gains relates to
• In profit and loss account, if credit is more than the debit, the difference is
• For every debit there will be an equal credit according to
• M/s Stationery Mart will debit the purchase of stationery to _______
• If the opening balance of debtors is Rs 16,000 and closing balance is Rs 80,000, cash received from debtors is Rs 35,000 and bad debts is Rs 1,000, then what will be the amount of credit sales?
• Opening balance of debtors a/c is Rs 1,40,000. Credit sales is Rs 10,74,000 and closing balance of Debtors a/c is Rs 1,90,000. What is the amount of cash collection from the debtors?
• A credit balance on a partner’s current A/c is.
• Valuation of stock in accounting follows the principle of cost price or ____ whichever is lower.
• Fixed assets are double the current assets and half the capital. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Then the current liabilities recorded in balance sheet will be