Home
Class 11
ACCOUNTS
Miss Priti, an electronic goods dealer, ...

Miss Priti, an electronic goods dealer, gifted a washing machine valued Rs. 25,000 to her friend Suruchi. Will it be recorded in the books of accounts?

Text Solution

Verified by Experts

Yes. It will be treated as drawings of Miss priti and will be recorded in the books.
Promotional Banner

Topper's Solved these Questions

  • MEANING AND OBJECTIVES OF ACCOUNTING

    DK GOEL|Exercise OBJECTIVE TYPE QUESTIONS (choose the best alternate)|15 Videos

  • LEDGER

    DK GOEL|Exercise HIGHER ORDER THINKING SKILLS (HOTS) QUESTIONS|8 Videos

  • Origin of Transactions : Source Documents of Accountancy

    DK GOEL|Exercise VERY SHORT ANSWER QUESTIONS|7 Videos
DK GOEL-MEANING AND OBJECTIVES OF ACCOUNTING-HIGHER ORDER THINKING SKILLS (HOTS) QUESTIONS
  1. What is the traditional function of accounting ?

    Text Solution

    |

  2. Is the basic objective of Book-keeping to maintain systematic records ...

    Text Solution

    |

  3. Recording of financial transactions and preparing the financial statem...

    Text Solution

    |

  4. What is the first step of accounting process ?

    Text Solution

    |

  5. What is the last step of accounting process ?

    Text Solution

    |

  6. On 1st Jan., 2015, Mr. Vadera was appointed as Marketing Manager of t...

    Text Solution

    |

  7. A firm follows a practice of giving the figures of previous year along...

    Text Solution

    |

  8. Give two examples of transactions which are not recorded in accounting...

    Text Solution

    |

  9. A firm has received a large order to supply the goods. Will it be reco...

    Text Solution

    |

  10. Mr. Ganpati, the properietor of a business, sold his residential house...

    Text Solution

    |

  11. Miss Priti, an electronic goods dealer, gifted a washing machine value...

    Text Solution

    |

  12. How is accounting influenced byh personal judgements?

    Text Solution

    |

  13. Mr. Vishwanath established a travel agency. Over the years the travel ...

    Text Solution

    |

  14. What is meant by qualitative information?

    Text Solution

    |

  15. Huge loss occurred due to the strike by employees. Will it be recorded...

    Text Solution

    |

  16. If the accounting information is not clearly presented, which of the q...

    Text Solution

    |

  17. Confidence and trust that the reported information is a reasonable rep...

    Text Solution

    |

  18. Which value is most important for good accounting ?

    Text Solution

    |

  19. The accountant of the firm found an error in the books of accounts but...

    Text Solution

    |

  20. Accounting records business transactions and events which are of finan...

    Text Solution

    |