321. The explanation of a journal is known as:
A. Data
B. Particulaars
C. journal entry
D. Narration

322. In the journal, transaction are recorded :
A. Account wise
B. Nature wise
C. Year wise
D. Data wise

323. Sales made to Mr. rana should be debited to:
A. Cash account
B. Bank account
C. Goods account
D. All the above

324. Repairs made to tabletting machine amounting to Rs 5,000 should be charged to:
A. Maintenance account
B. Machinery account
C. Bank account
D. Any the above

325. Drug samples worth Rs.5,000 were distributed to physicians. the amount should be debited to:
A. Sales account
B. Advertisment account
C. Samples account
D. None of the above

326. Accounting principal are described by terms like:
A. Accounting conventions
B. Accounting concepts
C. Both Accounting conventions and accounting concepts
D. None the above

327. Stock valuation at “cost or market price whichever is less” is based on a principal of:
A. Cost concept
B. Convention of conservation
C. Convention of full disclosure
D. Convention of full disclosure

328. Each transaction has double effect is shown by:
A. Dual- aspect concept
B. Realisation concept
C. Cost concept
D. Money measurement concept

329. Which of the following is not accounting equation?
A. Assets=capital -liabilities
B. Assets = capital +liabilities
C. Assets – liabilities = owners equity
D. Assets -capital =liabilities

330. The liabilites of anil is Rs 50,000 and owners equity is Rs 40,000. The assets of bussiness are:
A. Rs.90,000
B. Rs.50,000
C. Rs.10,000
D. Rs. 40,000