Question

Q.1. A) Do you Agree or Disagree with the following Statements :
1 Book-keeping records only monetary transactions
2 Purchase of asset is capital expenditure
3 GST stands for Goods & Sales Tax
4 Drawings by proprietor increases capital
5 ledger is book of Original Entry
6 Trial balance ensures arithmetical accuracy
7 Credit purchase of Machinery is recorded in Purchases Book
8 Debit balance of Profit & Loss A/c represents Gross Loss
9 Cheques deposited but not cleared appears only in cash book
10 Compensating errors does noi affect Triai Balance
11 Net profit is deducted from Capital

12 Single Entry System is unscientific method of accounting
13 Difference in Trial Balance is transferred to Suspense A/C
14 Balance Sheet is an Account
15 Depreciation is transferred to Trading A/C ​

Answer 1

Yes I am agree with this statement