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Worksheetsfinancial and cost accounting
Total questions: 10
Worksheet time: 5mins
NGO A/C s is recorded as
Personal account
Representative account
Artificial account
Copywrite rights of a company is a type of
Nominal Account
Real Account
------------Classification of transactions based upon the type of accounts.
Journal
Ledger
Trial balance
In a trial balance sheet, all liabilities and income are recorded on the
credit
debit
Difference in debit side and credit side of the Trial balance is recorded in
suspense account
Purchase book
Sales book
The balance sheet formula is
Assets = Liability + Capital
Assets = Capital-Liability
Expenses paid in advance, incurred but not paid, outstanding wages are consirdeed as
Assets
Liabilities
Adjustments
Prepaid salary shud be adjusted in ------------- and ----------- account
P/L account and B/L
P/L account and B/A
T/D and B/A
Cost accounting is carried out to satisfy
Internal decision making
Stakeholder decision making
Loan is a type of
short term liabilities
Long term liabilities
