Tag: elements of accounts
Questions Related to elements of accounts
__________ is used primarily for control of spare parts.
What is the threshold limit of turnover in the preceding financial year for opting to pay tax under composition scheme?
Following information is available of PQR for year ended March, 20XX: 4, 000 units in process, 3, 800 units output, 10% of input is normal wastage, Rs 2.50 per unit is scrap value and Rs 46, 000 incurred towards total process cost then amount on account of __________.
Internal reconstruction can be done by __________.
Modern Method of Accounting was introduced by _____________.
Book-keeping is often confused with _____________.
Valuation is _______________.
The statistical yardstick that provides a measure of the relationship between two accounting figures is _____________.
A) Low gearing is preferable to high gearing
B) 'Acid test' denotes liquidity
Of these:
"Book-keeping is the science and art of correctly recording in the books of accounts, all those business transactions that result in transfer of money or money's worth" is the definition given by ___________.