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.
Which of the following is not an accounting concept?
periodicity
accuracy
consistency
objectively
Correct answer is B
No explanation has been provided for this answer.