At the time of preparation of financial accounts, bad debt recovered account will be transferred to?

✅ A. all indirect costs.

Option A : all indirect costs. Option B : all direct costs. Option C : indirect and direct costs. Option D : all specific costs Correct Answer : all indirect costs. Read more

✅ C. 24

Option A : 37.5 Option B : 38.25 Option C : 24 Option D : 35 Correct Answer : 24 Read more

✅ B. 5,000 incurred on installation of new plant debited to travelling expenses A/c

Option A : 5,000 received from Sham credited to Ram A/c Option B : 5,000 incurred on installation of new plant debited to travelling expenses A/c Option C : 500 paid for wages debited to salary A/c Option D : 500 being purchase of raw material debited to purchase A/c ` 50 Correct Answer : 5,000 incurred on installation of… Read more

✅ A. 111%

Option A : 111% Option B : 120% Option C : 95% Option D : 117% Correct Answer : 111% Read more

✅ D. Advance payments made to suppliers for raw materials

Option A : Finished goods Option B : Work-in-process Option C : Stores and spares Option D : Advance payments made to suppliers for raw materials Correct Answer : Advance payments made to suppliers for raw materials Read more

✅

Option A : Expenses in connection with issue of equity shares Option B : Preoperative expenses Option C : Heavy advertising expenses to introduce a new product Option D : Legal expenses incurred in defending a suit for breach of contract to supply goods Correct Answer : 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

✅ D. Amount to be paid in foreign currency

Option A : Unconditional Option B : Certainty of amount Option C : In writing Option D : Amount to be paid in foreign currency Correct Answer : Amount to be paid in foreign currency Read more