Assets are normally listed on the balance sheet in the order of: Purchase date Maturity Liquidity Cost of asset 5% Debentures Account Rs. 3, 00,000. What amount of interest on debentures should be shown in profit and loss account? Rs. 6,000 Rs. 3, 00,000 Rs. 15,000 Rs. 3, 15,000 General reserves are shown in: Profit & loss account Balance sheet Cash flow statement Bank Statement Debit signifies: Increase in Asset account Decrease in liability account Decrease in capital account All of the given options The amount by which the seller agrees to reduce his or her price to the customer is called: Income Discount Allowed Discount Received Liability Mr. B is Debit Sales Returns is Credit Sales Returns is Debit Mr. B is Credit Mr. B is Debit Accounts Receivable Credit Purchases Return Debit Mr. B is Credit Which one of the following will result in increase in revenues? Purchased fixed asset Received discount Pay...
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