Welcome to Answerclub.org
Questions | Answers | Discussions | Knowledge sharing | Communities & more.
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Questions | Answers | Discussions | Knowledge sharing | Communities & more.
Give three elements of accounting voucher.
The three elements of accounting voucher are. Name of the company should be printed on the top The voucher number should be mentioned in the serial order Debit and credit amount should be written in figures against the amount
The three elements of accounting voucher are.
Name of the company should be printed on the top
See lessThe voucher number should be mentioned in the serial order
Debit and credit amount should be written in figures against the amount
Define a complex transaction.
Transactions that consist of a series of events leading to its completion is called complex transaction.
Transactions that consist of a series of events leading to its completion is called complex transaction.
See lessDefine a journal voucher.
Journal voucher is a document that contains essential information pertaining to a accounting transaction.
Journal voucher is a document that contains essential information pertaining to a accounting transaction.
See lessDefine compound voucher.
Compound vouchers are those vouchers which record different single or multiple debit/credit transactions.
Compound vouchers are those vouchers which record different single or multiple debit/credit transactions.
See lessWhat are the different bases of accounting?
Different bases of accounting are, Cash basis Accrual basis
Different bases of accounting are,
Cash basis
See lessAccrual basis
What is the nature of accounting principles?
Nature of accounting principles are, Accounting principles are a uniform set of rules that are developed to assure the uniformity and easy comprehension of the accounting information Accounting principles are man made and are derived from experience and reason Accounting principles are not static
Nature of accounting principles are,
Accounting principles are a uniform set of rules that are developed to assure the uniformity and easy comprehension of the accounting information
See lessAccounting principles are man made and are derived from experience and reason
Accounting principles are not static
What is income?
Excess of revenue over expenses is called as Income. Income = Revenue – Expenses
Excess of revenue over expenses is called as Income.
Income = Revenue – Expenses
See lessA Ltd. imported from London one machinery for sale in India and other machinery for production purpose. Will you treat them as goods or fixed assets?
First machinery will be treated as goods and the second machinery will be treated as Fixed Asset.
First machinery will be treated as goods and the second machinery will be treated as Fixed Asset.
See lessGive 2 examples of Tangible assets.
Examples of Tangible assets are: Stock Land and Building
Examples of Tangible assets are:
Stock
See lessLand and Building
What are the drawings?
Drawings refer to any value of commodities or cash withdrawn by the owner for personal use.
Drawings refer to any value of commodities or cash withdrawn by the owner for personal use.
See less