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16. Amount spent to increasing the earning capacity is a ______ expenditure
Capital
Revenue
Deferred revenue
Capital Loss
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17. Change in the capital A/c of proprietor may occur due to ______
Profit earned
Loss incurred
Capital Introduced
All of the above
18. Consistency with reference to the application of accounting procedures means
All companies in the same Industry should use identical accounting procedures
Income & assets have not been overstated
Accounting methods & procedures shall be followed uniform basis year after year
Any accounting method can be followed as per convenience
19. If one of the cars purchased by a car dealer is used for business purpose, instead of resale, then it should be recorded by_____
Dr. Drawing A/c & Cr Purchases A/c
Dr. Office Expenses A/c & Cr Motor Car A/c
Dr. Motor Car A/c & Cr Purchases A/c
Dr. Motor Car & Cr Sales A/c
20. If wages are paid for the construction of business premises ______ A/c is credited and _____ A/c is debited.
Wages, Cash
Premises, Cash
Cash, Wages
Cash, Premises
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