Books of Original Entry – Journal — Account STD 11 Commerce — Question

Premium paid on the life insurance policy of the proprietor will be debited to __________ A/c.

_____ are created out of capital gains.

Loss of goods by fire should be credited to _________ A/c.

A Bill of Exchange has ____________ parties.

Personal transactions are distinguished from business transactions in accordance with the concept of ......... .

Due date of a bill of exchange drawn on 30th January 2017 for one month will be ____________.

The ................ concept states that if straight line method of depreciation is used in one year, then it should also be used in the next year.

Wages paid to X will be posted to .............. account on the ............ side.

If a firm believes that some of its debtors may 'default'. It should act on this by making sure that all possible losses are recorded in the books. This is an example of the ............... convention.

If acceptance received from Shakshi was endorsed by us to Ruchika then on its dishonour it will be credited in our books to the account of ____________.