aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • Accounting (CA - CPT)
  • No journal entry is necessary to be passed when there is
Multiple choice

No journal entry is necessary to be passed when there is

  1. loss of bad debts

  2. normal loss

  3. abnormal loss

  4. loss by theft

  5. None of these

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Correct; for normal loss, no journal entry is passed.

Keep practicing — related questions

  • Directions: Choose the correct option for the given question. Which of the following transactions doesn't r...
  • In a compound journal entry
  • A, B and C were partners sharing profits in the ratio 5 : 4 : 1. 'A' retired and new ratio was decided as 3...
  • A sum of Rs. 2,000, received from S & Co., has beed entered as received from R & Co. What rectifying entry ...
  • A sum of Rs. 12,000, spent on the extension of a building, was debited to building repairs A/c. What rectif...
  • Repair charges of Rs. 500 for building are incorrectly charged to the building account. Which rectifying en...
  • What is the journal entry for transaction of cash received from Harish at 5% cash discount?
  • What is the journal entry for bad debts recoverd from Mohanlal worth Rs. 2,000?
Play the full quiz 🎤 Practise this topic out loud

Practice this topic

  • Accounting Principles and Practices (2416 questions)
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy