✅
Option A : Masoods account Option B : Cash account Option C : Cash account and Gagans account Option D : None of these Correct Answer : Masoods account Read more
✅ D. Cash Book is a subsidiary book as well as a ledger
Option A : A sale of an asset is recorded in the Sales Book Option B : Total of Return Outward Book is debited to Return Outward Account Option C : The balance of Petty Cash Book is a liability Option D : Cash Book is a subsidiary book as well as a ledger Correct Answer : Cash Book is… Read more
✅ D. They must be made after the adjusting entries but before the reversing entries
Option A : They must be followed by reversing entries Option B : They transfer the balances in all of the Nominal Accounts to the Trading and Profit and Loss Account Option C : They must be made after the reversing entries but before the adjusting entries Option D : They must be made after the adjusting entries but before… Read more
✅ D. Cost price or Market price whichever is lower
Option A : Cost Price Option B : Market Price Option C : Cost price or Market price whichever is higher Option D : Cost price or Market price whichever is lower Correct Answer : Cost price or Market price whichever is lower Read more