Arrangement of Balance Sheet in a logical order is known as __________?

✅ B. Bank overdraft

Option A : Surplus cash Option B : Bank overdraft Option C : Terms deposits with bank Option D : None of these Correct Answer : Bank overdraft Read more

✅ D. The favorable bank balance as per Pass Book is less than the Bank balance as per Cash book

Option A : The Trial Balance will not agree Option B : The balance of creditors is understated Option C : The purchases are understated Option D : The favorable bank balance as per Pass Book is less than the Bank balance as per Cash book Correct Answer : The favorable bank balance as per Pass Book is less than… Read more

✅ B. Undercasting or overcastting of a subsidiary book is an example or error of commission

Option A : Entering wrong amount in the subsidiary book affects the agreement of the Trial Balance Option B : Undercasting or overcastting of a subsidiary book is an example or error of commission Option C : Errors of principle do not affect the agreement of Trial Balance Option D : Both Correct Answer : Both and above Read more

✅ D. Debit Profit and Loss A/c and credit Provision for Bad Debts A/c.

Option A : Debit Provision for Bad Debts A/c and credit Debtors A/c Option B : Debit Debtors A/c and credit Provision for Bad Debts A/c Option C : Debit Provision for Bad Debts A/c and credit Profit & Loss A/c Option D : Debit Profit and Loss A/c and credit Provision for Bad Debts A/c. Correct Answer : Debit… Read more

✅ B. Sunk cost

Option A : Uncontrollable cost Option B : Sunk cost Option C : Avoidable cost Option D : Opportunity cost Correct Answer : Sunk cost 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

✅ A. Current Assets

Option A : Current Assets Option B : Fixed Assets Option C : Current Assets& current liabilities Option D : All of the above Correct Answer : Current Assets Read more

✅ D. Financial position as on a particular date

Option A : Results of operations for a particular period Option B : Financial position during a particular period Option C : Profit earning capacity for a particular period Option D : Financial position as on a particular date Correct Answer : Financial position as on a particular date Read more