Question

Q.2) Solve the Following TRUE or FALSE With the Reason:

1) Personal accounts means the person receives the losses the from Business.

2) Wages Paid to the staff or Employees

3) Revenue expenditure the benefit of which available normally within a period of Two year.

4) Investment means amount invested by the businessmen inside his business is called investment.

5) Single entry method incomplete or partial record of the business transactions are recorded. ​

Answer 1

Answer:

false 2 true 3 false 4 fales 5 true

Answer 2

True/ False involves placing true in front of correct sentences and false in front of incorrect sentences.

• The given statements belong to the concept of accounting
• The statements can be categorised as -

1) Personal accounts means the person receives the losses the from Business. - False (It is the account for a person's personal use)

2) Wages are paid to the staff or Employees - True

3) Revenue expenditure the benefit of which available normally within a period of Two years. - False ( It is expensed in the accounting year)

4) Investment means the amount invested by the businessmen inside his business is called investment. - False ( It is known as Capital)

5) Single entry method incomplete or partial records of the business transactions are recorded. ​- True

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