Which of these are not required in a promissory note?

✅ C. Salary remained outstanding

Option A : Cash received from debtors Option B : Cash paid to creditors Option C : Salary remained outstanding Option D : Cash deposited with bank Correct Answer : Salary remained outstanding Read more

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Option A : Credited to the Profit & Loss Account Option B : Debited to the Profit & Loss Account Option C : Shown on the liabilities side of the Balance Sheet Option D : Shown on the assets side of the Balance Sheet Read More Details about this Mcq Correct Answer : Shown on the assets side of the… Read more

✅ B. There are not sufficient funds in your account

Option A : Bank cant verify your identity Option B : There are not sufficient funds in your account Option C : Check has been forged Option D : Check cant be cashed being illegal Correct Answer : There are not sufficient funds in your account Read more

✅ C. The retained earnings was overstated during 2011-2012 and retained earnings will be understated during 2012-2013

Option A : The cost of goods sold was overstated during 2011-2012 and income will be understated during 2012-2013 Option B : The income was overstated during 2011-12 and closing inventory will be overstated during 2012-2013 Option C : The retained earnings was overstated during 2011-2012 and retained earnings will be understated during 2012-2013 Option D : The cost of… Read more

✅ D. Seller

Option A : Payee Option B : Payer Option C : Bank Option D : Seller Correct Answer : Seller Read more

✅ A. 5,80,000

Option A : 5,80,000 Option B : 5,50,000 Option C : 5,00,000 Option D : 5,75,000 Read More Details about this Mcq Correct Answer : 5,80,000 Read more

✅ C. Discounted present value Method

Option A : Straight line Method Option B : Written down value Method Option C : Discounted present value Method Option D : Sum of digits Method Correct Answer : Discounted present value Method Read more

✅ A. Mistake in Cash Book

Option A : Mistake in Cash Book Option B : Mistake in Pass Book Option C : Cheque issued but not presented for payment Option D : Cheques deposited but not cleared Correct Answer : Mistake in Cash Book Read more