Author: Faraz Ahmed – Page 9

✅ A. Adjusted

Option A : Adjusted Option B : Unadjusted Option C : Understated Option D : Overstated Correct Answer : Adjusted Read more

✅ C. Outstanding checks

Option A : Uncollected checks Option B : Uncredited checks Option C : Outstanding checks Option D : Bounced checks Read More Details about this Mcq Correct Answer : Outstanding checks Read more

✅ B. $2000 will be credited in cash book

Option A : $2000 will be debited in cash book Option B : $2000 will be credited in cash book Option C : $4000 will be debited in cash book Option D : $4000 will be credited in the cash book Correct Answer : $2000 will be credited in cash book Read more

✅ A. Credited in the cash book

Option A : Credited in the cash book Option B : Debited in the cash book Option C : Entered in the bank statement Option D : Entered in the petty cash balance Correct Answer : Credited in the cash book Read more

✅ B. Uncredited checks

Option A : Unpresented checks Option B : Uncredited checks Option C : Outstanding checks Option D : Bounced checks Correct Answer : Uncredited checks Read more

✅ C. Outstanding checks

Option A : Uncollected checks Option B : Uncredited checks Option C : Outstanding checks Option D : Bounced checks Correct Answer : Outstanding checks Read more

✅ B. $500 will be credited

Option A : $500 will be debited Option B : $500 will be credited Option C : Non-adjustable Option D : $1000 will be subtracted Correct Answer : $500 will be credited Read more

✅ D. Amount to be paid in foreign currency

Option A : Unconditional Option B : Certainty of amount Option C : In writing Option D : Amount to be paid in foreign currency Correct Answer : Amount to be paid in foreign currency Read more

✅ A. Triplicate

Option A : Triplicate Option B : Duplicate Option C : Single Option D : Quadruplicate Correct Answer : Triplicate Read more

✅ B. For mutual financial accommodation

Option A : Genuine trade reasons Option B : For mutual financial accommodation Option C : To help augment money supply Option D : All the three Correct Answer : For mutual financial accommodation Read more