if a sole proprietor pays his firms insurance policy , How it should treated in books of accounts? whether it should be treated as investment? or indirect expenses?or drawings?


No Answer is Posted For this Question
Be the First to Post Answer

Post New Answer

More Accounting General Interview Questions

Explain: Accrual Concept, Realisation Concept, Going Concern concept, Accounting period Concept

1 Answers  


Hi Everybody, Can anybody tell me how to create ledger in Peachtree Accounting software, means there are some Code, which Codes Comes under which ledger Account.your prompt Answer will be highly appreciated, Thanks & regards, Khan

0 Answers  


what is the different between Liability and owners equities ?

2 Answers  


Does the accounting system appear to facilitate one specialty from financial, auditing, or cost managerial or tax accounting over the others?

0 Answers  


sir, some body tell me how i treat the abnormal fire loss stock :-our company suffer a fire loss during goods in transit (goods were hold at warehouse and fire occured) now how i account for the loss and what type of ledger should i create and under which group

1 Answers  






Explain the Steps to transfer the data from AP to GL

0 Answers   Accenture,


What is Normal Loss? and What is the reason for Debiting such Loss in P&L account and also Crediting in Trading Account? and how the Loss should be accounted?

0 Answers  


What are the differences between debit and credit?

3 Answers  


A new firm commenced business on 1st January, 2006 and purchased goods costing Rs. 90,000 during the year. A sum of Rs. 6,000 was spent on freight inwards. At the end of the year the cost of goods still unsold was Rs. 12,000. Sales during the year Rs. 1,20,000. What is the gross profit earned by the firm? (a) Rs. 36,000 (b) Rs. 30,000 (c) Rs. 42,000 (d) Rs. 38,000

2 Answers   IMT, Wipro,


what about the manapuram fm

1 Answers   manappuram,


As you know account executives need to be talented salespeople. Do you have experience making sales?

0 Answers  


Which of the following are of capital nature? (a) Purchase of a goods (b) Cost of repair (c) Wages paid for installation of machinery (d) Rent of a factory

2 Answers  


Categories