Accounting and Auditing

13/06/2025

Advance payment are recognized as ?,,,
A) Account payable
B) account receivable
C) bed debts
D) none of these

21/04/2025

Commerce students like and follow this page it's very helpful for learning,,,,

02/11/2022

What is
consignment?
Consignee?
Consigner ?

19/08/2022

Mention one accounting principle

02/08/2022

1) voucher
at a time of transaction we make the transaction writing record for evidence this writing record is called vouchers

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02/08/2022

Accounting cycle incomplete with out vouchers so we can say the first step of accounting cycle is voucher

25/07/2022

Accounting Assignment
1. Ledger is called .
*King of All books of account.
2. Process of recording Transection in ledger is called .
* Posting
3 . Which of the following principle states that the assets are purchased for the use and not for resale purpose.
* Going Concern principle
4 . Purchase return is also called .
* Return outward / Return to supplier
5 . GAAP are applicable in ?
* USA
6 . Accounting is also called the language of
* Business
7 . When an exchange is made for cash is called
* Cash Transection
8 . Business debt is called
* Liabilities
9 . Cash discount is allowed on payment before
* Due date
10 . Accounting standard which applies in pakistan are?
* IAS
11. Book keeping provides
* Primary information
12. Any written evidence in support of a business Transection is called:
* Voucher
13 . Compound entry affected at least
* Three Accounts
14 . Which of the following are books of the prime entry
*Petty cash book and journal
15 . The cash Book is called
* Subsidiary journal
16 . The balance of petty cash presents
*Assets
17. Cash book is prepared by
* Customer
18 . The term imprest system is used in
* Petty cash book
19 . The credit balance of bank account in cash book is called
* Liability
20 . A cash deposit made by business appears on the bank statement as
* Credit balance
21 . Standing orders are
* Credited in the cash book
22 . Trial balance is prepared to check accuracy of
* Ledger Account
23 . Capital increase if ....... Increase
* Revenue
24 Depreciation is calculated on original Cost in
* Straight line Method
25 . Depreciation may be due to
* Wear and tear
* Passage of time
* Obsolescence(متروک ہونا)
26 . Scrap value is also called
* salvage value
* Residual (باقی) value
27 . When Asset is sold which account is credited
* Assets Account
28 . Book value of an asset is equal to
* Cost- depreciation
29 . Consigner account is
* Personal account

26/02/2022

Cash book maintain
Accountant / costumers
And pass book maintain by bank

04/01/2022

The long term assets that have no physical existence but are rights that have value is known as

A) Current Assets
B) Fixed Assests
C) Intangible Assets
D) Investments

27/08/2021

idle capacity variance ?
The difference between actual factory over head and budgeted allowance on the base of actual hor
Can you defined bater than ..?

25/08/2021

What is business ?
All legal industrial and commercial activities that provide goods or services to the people for earning of profit