Ledger — Account STD 11 Commerce — Question

Everything a firm owns, it also owes out to somebody. This co-incidence is explained by the .................. concept.

A bill of exchange is called a ____________ by one who is liable to pay its amount.

Under the Written Down Value method, ________ remains constant whereas the amount of depreciation goes on ________ from year to year.

Rule of ________ A/c is “debit all expenses and losses and credit all incomes and gains".

Outstanding rent will be debited to __________ A/c.

State the account to bre debites or credited in the following situation:
Books of Drawer:-
When a bill, which is presented by a bank for payment is dishonoured, the account to be credited is ___________.

Revenue means the income of a ______.

Salary paid to Mohan will be debited to __________ A/c.

Under ________ method, the value of an asset, even if it becomes.

The term 'sales' is used only for the sales of _______ and is never used for the sale of ______.