The estimated life of a machine is 10 years, with annual depreciation of Tk. 20,000 and a salvage value of Tk. 25,000. What is the cost price of the machine?

1.Double-entry system is a- Which one is correct? i. Completed method ii. Modern method iii. Scientific method Which one is correct?

2.In which year was the VAT law introduced in Bangladesh?

3.Accounting is ---------

4.What amount is debited to the purchase account?

5.Which one is a contra asset?

6.Which of the following is capital receipt?

7.Cash receipts journal and cash payment journal indicate- i. Total cash receipts ii. Total cash payment iii. Total accounts receivable & total accounts payable Which one is correct?

8.Service charge by the bank is- i. Credited to the cash book ii. Debited to the bank statement iii. Credited to the bank statement Which one is correct?

9.Who prepares the bank reconciliation statement?

10.What is the NSF cheque?

11.If compensating error occurs : i. Both sides of trial balance will equal ii. Two accounts will remain in error iii. One account will remain in error Which one is correct?

12.Which account balances are not included in the trial balance?