_________ Checks that are presented to bank but not yet credited by the bank.

✅ B. A Liability

Option A : An Asset in the Balance Sheet Option B : A Liability Option C : By adjusting it in the P & L A/c Option D : Both Correct Answer : Both and above Read more

✅ B. Net Profit = Gross Profit + Administration expenses and Other expenses

Option A : Net Profit = Gross Profit “ Administration and Other expenses Option B : Net Profit = Gross Profit + Administration expenses and Other expenses Option C : Opening Stock + Purchases “ Closing Stock = Cost of Sales Option D : Both Correct Answer : Both and above Read more

✅ C. Petty cash column

Option A : Cash column Option B : Bank column Option C : Petty cash column Option D : Discount column Correct Answer : Petty cash column Read more

✅ B. Crane value

Option A : Crane hours Option B : Crane value Option C : Truck Mileage Option D : Truck value Correct Answer : Crane value Read more

✅

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

✅ 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

✅ B. Debit balance of Provision for Bad Debts Account

Option A : Credit balance of Provision for Bad Debts Account Option B : Debit balance of Provision for Bad Debts Account Option C : Debit balance of Bad Debts Account Option D : Debit balance of Discount on Debtors Account Correct Answer : Debit balance of Provision for Bad Debts Account Read more

✅ C. Cost of stand by equipment

Option A : Repair of plant and machinery Option B : Salary paid to workers Option C : Cost of stand by equipment Option D : Annual whitewash of the office building Correct Answer : Cost of stand by equipment Read more