If two or more transactions of the same nature are journalize together having either the debit or credit account common is known as:

Related MCQs

• Select correct journal entry to rectify an error “An amount of 10,000, withdrawn by owner for personal use debited to Trade Expenses Account”. Debit Credit
• In case of debit balance , the words …………. are written on the debit side.
• Difference of totals of both debit and credit side of the trial balance is transferred to:
• All of the following have debit balance except one. That account is ………
• In case credit balance , the words ………….. are written on the credit side.
• What is the nature of joint venture with co-venture account?
• Joint venture account is of the nature of
• Goods sent on consignment account is of the nature of
• Which of the following account will have credit balance?
• Which of the following account will have credit balance?