Which is a contra asset?

1.What is the full form of NSF?

2.Which of the following is correct? i. Bank reconciliation statement for double entry correction method is prepared with the balances of both cash book and bank statement. ii. After reconciliation, both balances are equal. iii. The correct bank balance is found. Which of the following is correct?

3.What kind of error is this?

4.If opening stock is 25,000 taka , purchases are 1,50,000 taka, sales are 2,00,000 taka and closing stock is 30,000 taka, what will be the adjusted purchases?

5.What will be the amount of discount if the payment is made on 10th March?

6.Which one is an external cause of depreciation?

7.Which of the following is a fictitious asset?

8.If purchase including VAT is 71,000 taka and purchase returns is 2,000 taka in the trial balance, what is the amount of purchase VAT?

9.If the profit rate is 25% on cost price, what is the profit rate on selling price?

10.What is the amount of credit sales?

11.Mr. Akib bought a machine for 1,00,000 taka at the

12.Accounting is -