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What is meant by deferred revenue expenditure?
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State whether the following expenditure is capital, revenue or deferred revenue.
Advertising expenditure, the benefits of which will last for three years.
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State whether the following expenditure is capital, revenue or deferred revenue.
Registration fees paid at the time of registration of a building.
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State whether the following expenditure is capital, revenue or deferred revenue.
Expenditure incurred on repairs and whitewashing at the time of purchase of an old building in order to make it usable.
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Bank overdraft should be shown ______.
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Balance sheet shows the ______ of the business.
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What are wasting assets?
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What are fixed assets?
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Mention any two differences between trial balance and balance sheet.
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“Balance sheet is not an account” – Explain.
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What are the advantages of preparing a balance sheet?
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What is meant by grouping and marshaling assets and liabilities?
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From the following particulars, prepare balance sheet in the books of Bragathish as on 31st December, 2017:
| Particulars | ₹ | Particulars | ₹ |
| Capital | 80,000 | Cash in hand | 20,000 |
| Debtors | 12,800 | Net profit | 4,800 |
| Drawings | 8,800 | Plant | 43,200 |
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Prepare trading and profit and loss account in the books of Ramasundari for the year ended 31st December, 2017 and balance sheet as on that date from the following information:
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 2,500 | Sales | 7,000 |
| Wages | 2,700 | Purchases | 3,300 |
| Closing Stock | 4,000 | Salary | 2,600 |
| Discount received | 2,500 | Capital | 52,000 |
| Machinery | 52,000 | Cash at Bank | 6,400 |
| Creditors | 8,000 |
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Prepare trading and profit and loss account and balance sheet in the books of Deri, a trader, from the following balances as of March 31, 2018.
| Particulars | ₹ | Particulars | ₹ |
| Stock | 10,000 | Sales | 1,22,500 |
| Cash | 2,500 | Creditors | 5,000 |
| Bank | 5,000 | Bills payable | 2,000 |
| Freight inwards | 750 | Capital | 52,000 |
| Purchases | 95,000 | ||
| Drawings | 4,500 | ||
| Wages | 27,500 | ||
| Machinery | 50,000 | ||
| Debtors | 13,500 | ||
| Postage (office) | 150 | ||
| Sundry expenses | 850 | ||
| Rent paid | 2,500 | ||
| Furniture | 17,250 | ||
| 2,29,500 | 2,29,500 |
Closing stock (31st March, 2018) ₹ 8,000.
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What are the different types of cash book?
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List any two functions of accounting.
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Accounting equation signifies ___________.
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‘Cash withdrawn by the proprietor from the business for his personal use’ causes ____________.
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A firm has assets of ₹ 1,00,000 and the external liabilities of ₹ 60,000. Its capital would be ___________.
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