Ledger — Account STD 11 Commerce — Question

Complete the following work sheet:
Everything a firm owns, it also owns out to somebody. This co-incidence is explained by the ___________ concept.

A Bill of Exchange has ____________ parties.

___________ are those assets which have a physical existence and which can be seen or felt.

Ledger account gives the folio of …..

For goods returned by customer __________ A/c is debited.

_____ are created out of capital gains.

When a cheque deposited into bank is dishonoured, it is recorded on..................side of Cash Book in...............columa.

___________ are those assets which have a physical existence and which can be seen or felt.

Due date of a bill of exchange drawn on 31st January 2017 for one month will be ____________.

A firm may hold stock which is heavily in demand. Consequently, the market value of this stock may be increasing. Normal accounting procedure is to ignore this because of the ............. .