Accounting Quiz Unit II

The first record of a transaction is made in the:

The process of allocating the cost of an intangible asset over its useful life is called:

A Trial Balance will NOT detect which of the following errors?

The principal book of accounting where accounts are maintained is the:

A credit sale of goods to Mr. X for ₹5,000 should be debited to:

Under the Straight-Line Method (SLM), the amount of depreciation each year is:

An amount set aside out of profits to meet a specific future liability is a:

Goodwill is an example of a(n):

The GST paid on the purchase of goods is known as:

Treating a revenue expenditure as a capital expenditure is an error of: