poa xi-A

withdrawal of goods by the owner for his personal use must be credited to

• Drawing ac

• Goods ac

• Purchase ac

• Capital ac

net loss is always

• Equal to gross loss

• More than gross loss

• Less than gross loss

• None of these

From business point of view, interest on capital is considered as

• An income

• An expenses

• A profit

• A liability

Provision for bad debts should appear in the balance sheet as

• A ficticious asset

• Part of the capital

• A deduction from the debtors

• An addition to debtors

Adjusting entries are made

• At the end of the accounting period

• in the beginning of the accounting period

• During the accounting period

• At any time

All those expenses which have become due but not paid are called

• Accrued revenues

• prepaid revenues

• Outstanding expenses

• Advance expenses

A prepaid expenses is

• A liability

• An asset

• An expenses

• capital

The debts, the recovery or realization of which is uncertain are known as

• Bad debts

• Doubtful debts

• Provision for doubtful debts

• loan

Depreciation is

• A liability

• A loss

• An expenses

• Both 1 & 2

In the balance sheet ,pre received income is shown on

• Assets side

• Liabilities side

• Both 1 & 2

• None of these