Accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2010
1. When a bill of exchange is discharged ,the acceptor debits :
Creditor’s Account
Cash Account
Bills Payable Account
Debtor’s Account
2. A debit balance in a personal account represents______________
Liability
Asset
Cash at Bank
Creditors
3. Under consequential loss insurance, in order to find out the loss of profit, the gross profit ration is applied on the _____________ caused by fire during he indemnity period or the dislocation period.
Profit on Turnover
Selling Price
Loss of Turnover
Purchase price
Creditor’s Account
Cash Account
Bills Payable Account
Debtor’s Account
2. A debit balance in a personal account represents______________
Liability
Asset
Cash at Bank
Creditors
3. Under consequential loss insurance, in order to find out the loss of profit, the gross profit ration is applied on the _____________ caused by fire during he indemnity period or the dislocation period.
Profit on Turnover
Selling Price
Loss of Turnover
Purchase price
16 February 2010
1.Cash A/c Credit
2.Asset
3.Loss of turnover
1.Cash A/c Credit
2.Asset
3.Loss of turnover
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