- What do you understand by periodicity in accounting?
- What do you understand by an extraordinary item?
- What do you understand by a deferred asset?
- What is scrap value? Explain.
- Explain what setup cost is.
- Differentiate between the accounts Purchases and Inventory.
- Define bond sinking fund.
- Define accrued interest.
- Will it be correct to describe repairs to office an expense?
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