Question

Q1. Goods destroyed in fire should be credited to:

1. Purchases A/c
2. Sales A/c
3. Loss of goods by fire A/c
4. None of the above

Q2. Which of the following is not a source of document:

1. Cash memo
2. Invoice and Bill
3. Cash book
4. All of the above

Q3. Unearned income A/c is:

1. Asset
2. Liability
3. Expenses
4. None of the above

Answer 1

Answer:

1.LOSS BY FIRE A/C DR.

TO PURCHASE A/C

2 INVOICE

3.ASSET

Answer 2

a) loss of goods by fire A/c

b) invoice and bill

c)asset

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