Bad debts recovered account will be transferred to______________?

✅ E. All of these

Option A : Debit Bills Receivable Account Option B : Debit Drawees Account Option C : Credit Drawees Account Option D : Credit Sales Account Correct Answer : All of these Read more

✅ A. $2,000

Option A : $2,000 Option B : Zero Option C : $3,000 Option D : $2,500 Correct Answer : $2,000 Read more

✅ B. Added to bank balance

Option A : Subtracted from bank balance Option B : Added to bank balance Option C : Added to Cash book balance Option D : Subtracted from cash book balance Correct Answer : Added to bank balance Read more

✅ A. No change occurs to inventories for either use absorption costing or variable costing methods

Option A : No change occurs to inventories for either use absorption costing or variable costing methods Option B : The use of absorption costing produces a higher net income than the use of variable costing Option C : The use of absorption costing produces a lower net income than the use of variable costing Option D : The use… Read more

✅ C. Adding 1,800 to closing stock and deducting 2,200 each from debtors and sales

Option A : Adding 2,200 to closing stock Option B : Deducting 1,800 from closing stock and deducting 2,200 each from debtors and sales Option C : Adding 1,800 to closing stock and deducting 2,200 each from debtors and sales Option D : Deducting 1,800 from debtors Correct Answer : Adding 1,800 to closing stock and deducting 2,200 each from… 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. Show the true financial position in the Balance Sheet

Option A : Calculate the true profit Option B : Show the true financial position in the Balance Sheet Option C : Provide funds for replacement of fixed assets Option D : Both and Correct Answer : Show the true financial position in the Balance Sheet Read more

✅ B. Payments

Option A : Receipts Option B : Payments Option C : Income Option D : Expense Correct Answer : Payments Read more