Uncollected checks also referred as______________?

✅

Option A : 17,000 (overstated Option B : 12,000 (understated Option C : 7,000 (understated Option D : 7,000 (overstate Correct Answer : 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

✅ 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

✅ B. Credit

Option A : Debit Option B : Credit Option C : Expenses Option D : Liability Correct Answer : Credit Read more

✅ E. All of these

Option A : Income received in advance Option B : Stock Option C : Debtors Option D : Pre-paid expenses and Accrued income Correct Answer : All of these Read more

✅ A. Postage stamps

Option A : Postage stamps Option B : B/R Option C : Cheque Deposited with Bank Option D : B/R endorsed Correct Answer : Postage stamps Read more

✅ B. Putting the new asset in working condition

Option A : Expenses for day to day running of the business Option B : Putting the new asset in working condition Option C : Depreciation Option D : Purchase of raw material Correct Answer : Putting the new asset in working condition Read more

✅ B. Depreciation is a charge against profit

Option A : Depreciation cannot be provided in case of loss in a financial year Option B : Depreciation is a charge against profit Option C : Depreciation is provided in the books only when there is profit Option D : Depreciation is an appropriation of profit Correct Answer : Depreciation is a charge against profit Read more