Depreciation, Provisions and Reserves — Account STD 11 Commerce — Question

What are the types of Vouchers?

Should depreciation be provided even if there is loss in a financial year?

What is cash basis of accounting?

While preparing Bank Reconciliation Statement from the debit balance of the Pass Book indicate whether the following items will be written in Plus or Minus Column.

1. Insurance premium paid by the bank.
2. Interest and dividend collected by the bank.
3. Payment of ‘Bills Payable' by the bank on behalf of the customer.
4. Interest allowed by the bank.
5. Cheques deposited into the bank but not yet cleared.

What is expense?

If the cheque is not presented for the payment up to the date of the preparation of the Bank Reconciliation Statement then the balance as per pass book will be ________.

1. Higher than the balance shown by the cash book by the amount of unpresented cheque.
2. Same as shown by the cash book.
3. Twice the balance shown by the cash book.
4. Lower than the balance shown by the cash book by the amount of unpresented cheque.

What is Liability Account?

Is Trial Balance a part of Double Entry System?

Briefly explain Expenditure.

What is the meaning of Ledger?