1.

Select the most appropriate alternative from the alternatives given below and rewrite the statement:i. Goods sold on credit should be debited to ________(a) Purchase A/c (b) Customer A/c (c) Sales A/c (d) Cash A/cii. Wages paid for installation of Machinery should be debited to ________ (a) Wages A/c (b) Machinery A/c (c) Cash A/c (d) Installation A/ciii. The commission paid to the agent should be debited to ___________ (a) Drawing A/c (b) Cash A/c (c) Commission A/c (d) Agent A/civ. Loan taken from Dena Bank should be credited to _______ (a) Capital A/c (b) Dena Bank A/c (c) Cash A/c (d) Dena Bank Loan A/cv. Purchase of animals for cash should be debited to ________ (a) Livestock A/c (b) Goods A/c (c) Cash A/c (d) Bank A/c

Answer»

i. (b) Customer A/c

ii. (b) Machinery A/c

iii. (c) Commission A/c

iv. (d) Dena Bank Loan A/c

v. (a) Livestock A/c


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