Accounting

Q1. Credit note is the basis for recording a transaction in which of the following journals?

Q2. ________ is the first phase of accounting cycle

Q3. Amount paid to Masood posted to the credit side of his account would affect___________?

Q4. Error which affect only one account can be

Q5. Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books?

Q6. Net sales = Sales less?

Q7. The largest expense of most manufacturing firms is?

Q8. Graph which is plotted for projected net present value and capital rates is called

Q9. A point where profile of net present value crosses horizontal axis at plotted graph indicates project

Q10. The maintenance of accounts in a systematic way is called: