Give an example of a transaction which has effect on two items on… - Vidyadip

Question

Give an example of a transaction which has effect on two items on the assets side.

✓

Answer

Sales of goods on credit.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Accounting Equation→Accounting Equation — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What is Opening Entry?

What is income?

Name the error committed by violating the rules of Accounting.

Distinguish between:

Capital Expenditure and Revenue Expenditure

Give two examples of Tangible Assets.

What is going concern concept?

Give transaction that:
Increase an asset and increase a liability.

If a Trial Balance does not agree, the difference must be entered in:

The Profit and Loss Account.
A Suspense Account.
A Nominal Account.
The Capital Account. Give reasons.

State the types of Personal Accounts.

What journal entry is passed in case of purchase of goods within the state?