i. Narration is required for every entry. ii. GST stands for Goods and Sales Tax.

Question

Do you agree or disagree with the following statement:

i. Narration is required for every entry.

ii. GST stands for Goods and Sales Tax.

iii. Trade discount is not recorded in the books of accounts.

iv. Wages paid for the installation of Machinery is debited to Wages Account.

v. The process of entering or recording the transactions in a Journal is called Journalising.

Answer 1

i. Agree

ii. Disagree

iii. Agree

iv. Disagree

v. Agree