BHCT-112, Hospitality Accounting

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Which of the following will not be recorded in the book of Account ?

• Sales of Goods

• Payment of Salary

• Quality of Staff

• Purchase of Goods

Basic function of financial accounting is to....

• Record all business transactions.

• Interpret financial data.

• Assist the management.

• None of these.

Goods taken by proprietor for personal use is.....

• sale

• Drawings

• Purchase

• None of these

Goodwill is a/an

• Tangible Assets

• Intangible Assets

• Current Assets

• Fictitious Assets

Bank Overdraft is...

• Short-term Liability

• Long-term Liability

• Contingent Liability

• None of these

Debit means...

• an increase in assets

• an increase in liability

• an increase in the proprietor equity

• a decrease in assets

Salaries Account is..

• an expenses account

• an assets account

• a liability account

• None of these