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11. The amount of depreciation charged on machinery is debited to
Depreciation account
Machinery account
Provision for depreciation account
Expense account
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12. Which of the following is not a Capital Expenditure?
Money spent to purchase the Furniture
Money spent to purchase the Building
Money spent to pay the salary to the employees
Money spent to purchase the Land
13. Which of the following is not a Revenue Expenditure?
Money spent towards acquiring the Furniture
Money spent to pay salary to the employees
Money spent on electricity bill
Money spent towards interest on deposits
14. What is Accounting Equation?
Assets = Capital + Liabilities
Assets = Capital – Liabilities
Liabilities = Capital + Assets
15. How would you classify the Depreciation?
Asset to the bank
Expense to the bank
Income to the bank
Liability to the bank
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