✅ A. Sales Cost of goods sold
Option A : Sales Cost of goods sold Option B : Sales Closing Stock + Purchases Option C : Opening Stock + Purchases Closing Stock Option D : None of the above Correct Answer : Sales Cost of goods sold Read more
✅ D. Directors remuneration Read More Details about this Mcq
Option A : Loss on sale of undertaking Option B : Debts considered bad and written off Option C : Liability arising from a breach of contract Option D : Directors remuneration Read More Details about this Mcq Correct Answer : Directors remuneration 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
✅ A. Profit & Loss Account is prepared for a certain period and hence it is an interim statement
Option A : Profit & Loss Account is prepared for a certain period and hence it is an interim statement Option B : Profit & Loss Account does not disclose the effect of non-financial items Option C : Net Profits are ascertained on the basis of current costs Option D : Net Profits as disclosed by P&L Account is not… Read more
✅ A. Financial results of the concern for a period
Option A : Financial results of the concern for a period Option B : Financial position of the concern on a particular date Option C : Financial results of the concern on a particular date Option D : Cost of goods sold during the period Read More Details about this Mcq Correct Answer : Financial results of the concern for… Read more
✅ A. Drawings
Option A : Drawings Option B : Bad debts Option C : Accrued expenses Option D : Reserve for discount on Sundry Creditors Read More Details about this Mcq Correct Answer : Drawings Read more
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Option A : Profit and Loss Account Option B : Balance Sheet Option C : Funds Flow Statement Option D : Trial Balance Read More Details about this Mcq Correct Answer : Trial Balance 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. Vehicle
Option A : Stock Option B : Vehicle Option C : Fixed deposit in bank Option D : Both and Correct Answer : Both and above Read more
✅ A. Sundry Debtors
Option A : Sundry Debtors Option B : Stock Option C : Prepaid insurance Option D : All of Correct Answer : All of and above Read more