Recording of Transactions - 1 — Account STD 11 Commerce — Question

The party which is entitled to receive the payment of bill of exchange is known as ____________.

Concept of ............ requires that the same accounting methods should be used from one accounting period to the next.

Given the same rate per cent, assets depreciate faster by the __________ as compared to the __________.

State the account to bre debites or credited in the following situation:
Books of Drawer:-
When noting charges are paid by the bank at the time of dishonour of the bill, the drawee credits ____________ account.

Complete the following work sheet:
If a firm receives an order for goods, it would not be included in the sales figure owing to the ___________.

Three days added for ascertaining the date of maturity of bill of exchange are called ____________.

Under the Fixed Instalment Method, depreciation is calculated on ________ of the asset.

The ________ method equalises the burden on each year's Profit & Loss Account for depreciation and repairs put together.

Depreciation represents a ________ in the value of fixed assets.

Rule of ________ A/c is “debit all expenses and losses and credit all incomes and gains".