1451. Wages paid for installing a machine should be debited to :

A. Machinery account *
B. Wages account
C. Cash account
D. Both machinery and wages account

1452. In balance sheet , prepaid expenses should be appear as :

A. Liabilities
B. Incomes
C. Expenses
D. Assets *

1453. In balance sheet, pre received income is shown on :

A. Debit side
B. Liability side *
C. Both debit and credit side
D. None of these

1454. Net profit is always :

A. Equal to gross profit
B. More than gross profit
C. Less than gross profit *
D. Parallel to gross profit

1455. Net loss is always :

A. Than Gross loss *
B. Less than gross loss
C. Equal to gross loss
D. Parallel to gross loss

1456. While making the adjusting entry in respect of depreciation , machinery account is :

A. Debited
B. Credited *
C. Both debit and credit
D. Neither debit nor credit

1457. The principle of framing a closing entry in respect of net profit, is to debit profit and loss account and credit:

A. Cash account
B. Net profit account
C. Capital account
D. None of these

1458. outstanding wages are shown as :

A. An expense
B. A liability *
C. An asset
D. An income

1459. While making an adjusting entry in respect of closing stock, we debit:

A. Closing stock *
B. Trading account
C. Purchase account
D. Opening stock

1460. While, making an adjusting entry in respect of interest on capital we credit :

A. Interest on capital account
B. Capital account *
C. Profit and loss account
D. Trading account