ACCOUNTING TERMS

4. A SUMMARISEDRECORD OF RELEVANT TRANSACTIONS AT ONE PLACE RELATING TO A PARTICULAR HEAD IS CALLED AS AN
6. YOU PASS THIS ENTRY TO BRING FORWARD THE BALANCES OF ASSETS AND LIABILITIES FROM THE PREVIOUS YEAR.
7. IT IS A FINANCIAL EVENT EXPRESSED IN TERMS OF MONEY.
9. IT IS THE FIRST BOOK IN WHICH THE BUSINESS TRANSACTIONS ARE RECORDED.
11. WHICH PRINCIPLE OF ACCOUNTING IS VIOLATED WHEN THE FIRM FREQUENTLY CHANGES THE METHODS OF CHARGING DEPRICIATION.
13. DEBIT BALANCE OF CASH BOUGHT DOWN IS AN _____ TO THE FIRM
14. DEBIT THE RECEIVER AND CREDIT THE GIVER IS THE RULE FOR THIS ACCOUNT

1. ACCOUNTING STANDARS ARE DEVELOPED AND SET IN INDIA BY THIS BOARD.
2. UNDER THIS SYSTEM MISSAPPROPRIATION OF CASH BY THE PETTY CASHIER CAN BE MINIMISEDAS HE IS NOT ALLOWED TONDRAW CASH WHEN HE DESIRES.
3. THESE BOOKS ARE SPECIAL JOURNALS.
5. ARITHMETICAL ACCURACY OF THE BOOKS OF ACCOUNTS CAN BE ENSURED BY MAKING
8. THIS CURRENT ASSET IS VALUED AT LOWER OF COST OR NET REALISABLE VALUE.
10. IS THE RESULT OF OPERATIONS WHICH INCREASES OWNERS EQUITY.
12. YOU ARE FOLLOWING THIS BASIS OF ACCOUNTING IF YOU DO NOT RECORD CREDIT TRANSACTIONS