When both debit and credit entries of a transaction are shown in the cash book, it is described as
Contra entry
Reversal entry
Double entry
Single entry
Correct answer is A
No explanation has been provided for this answer.
Books of account are opening by means of a
purchases journal
principal journal
sales journal
returns inward journal
Correct answer is B
No explanation has been provided for this answer.
Direct material + direct expenses is
overhead
prime cost
total cost
conversion cost
Correct answer is B
No explanation has been provided for this answer.
Which of the following statements is no correct?
profits increase capital
losses reduce capital
drawings reduce capital
drawings increase capital
Correct answer is D
No explanation has been provided for this answer.
substance over form
prudence
objectively
materiality
Correct answer is D
No explanation has been provided for this answer.