A foreign bill of exchange is generally drawn up in___________?

✅ C. Cash payments and cash receipts

Option A : Cash payments Option B : Cash receipts Option C : Cash payments and cash receipts Option D : Neither cash payments nor cash receipts Correct Answer : Cash payments and cash receipts Read more

✅ A. 4/4/2013

Option A : 4/4/2013 Option B : 3/4/2013 Option C : 1/4/2013 Option D : 31-3-2013 Correct Answer : 4/4/2013 Read more

✅ D. Debit of 600 and 200 to insurance company and Profit and Loss Account respectively and credit of 800 to Trading Account

Option A : Debit of 800 to Trading Account and credit of 600 and 200 to insurance company and Profit and Loss Account respectively Option B : Deduct the 800 from closing stock in the Trading Account Option C : Credit insurance company for 600 Option D : Debit of 600 and 200 to insurance company and Profit and Loss… 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

✅ A. Debited to P&L A/c

Option A : Debited to P&L A/c Option B : Shown as liability in Balance Sheet Option C : Reduced from related asset in Balance Sheet Option D : Both and Correct Answer : Debited to P&L A/c 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

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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

✅ 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