✅ A. Debts included in Sundry Debtors which are doubtful in nature
Option A : Debts included in Sundry Debtors which are doubtful in nature Option B : Uncalled liability on partly paid shares Option C : Claims against the company not acknowledged as debts Option D : Arrears of fixed cumulative dividend Read More Details about this Mcq Correct Answer : Debts included in Sundry Debtors which are doubtful in nature Read more
✅ C. On the liabilities side under current liabilities
Option A : On the assets side under current assets Option B : On the assets side under loans and advances Option C : On the liabilities side under current liabilities Option D : On the liabilities side under provisions Correct Answer : On the liabilities side under current liabilities Read more
✅ A. Balance Sheet discloses financial position of the business
Option A : Balance Sheet discloses financial position of the business Option B : A person who owes to the business is called Debtor Option C : Decrease in the value of the asset could decrease the value of a liability Option D : Assets are to be shown in the Balance Sheet at the realizable value Read More Details… Read more
✅ D. Financial position as on a particular date
Option A : Results of operations for a particular period Option B : Financial position during a particular period Option C : Profit earning capacity for a particular period Option D : Financial position as on a particular date Correct Answer : Financial position as on a particular date Read more
✅ E. All of these
Option A : Stock at the end of the financial year Option B : Stock at the beginning of the financial year Option C : Drawings Option D : Prepaid Rent & Interest received but not yet earned Correct Answer : All of these Read more
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Option A : Current assets Option B : Intangible assets Option C : Deferred revenue expenditure Option D : Not an asset Read More Details about this Mcq Correct Answer : Not an asset Read more
✅ C. Accounts Receivable
Option A : Trade mark Option B : Franchise Option C : Accounts Receivable Option D : Secret Profit Read More Details about this Mcq Correct Answer : Accounts Receivable Read more
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Option A : Prepaid expenses Option B : Trademark Option C : Discount on issue of shares Option D : Outstanding Salaries Read More Details about this Mcq Correct Answer : Outstanding Salaries Read more
✅ A. Business entity concept
Option A : Business entity concept Option B : Money measurement concept Option C : Going concern concept Option D : Matching concept Read More Details about this Mcq Correct Answer : Business entity concept Read more
✅ C. Gross Profit + Opening Stock + Direct expenses + Purchases- Closing stock = Sales
Option A : Gross Profit+ Sales+ Direct expenses+ Purchases+ Closing stock = Opening stock Option B : Gross Profit+ Sales+ Direct expenses+ Purchases- Closing stock = Opening Stock Option C : Gross Profit + Opening Stock + Direct expenses + Purchases- Closing stock = Sales Option D : Gross Profit Opening Stock + Direct expenses + Purchases +Closing stock… Read more