Buildings account is debited with an amount towards repairs. This is an example of?

✅ A. 2,40,000

Option A : 2,40,000 Option B : 2,10,000 Option C : 2,00,000 Option D : 1,80,000 Correct Answer : 2,40,000 Read more

✅ D. Closing stock

Option A : Sales Option B : Purchases Option C : Inward returns Option D : Closing stock Correct Answer : Closing stock Read more

✅ A. Acceptance

Option A : Acceptance Option B : Unconditional promise to pay Option C : Properly stamped Option D : Payment to be made legal currency Correct Answer : Acceptance Read more

✅ A. Profit and Loss A/c

Option A : Profit and Loss A/c Option B : Trading A/c Option C : Deducted from the concerned assets A/c Option D : Shown on the liability side Correct Answer : Profit and Loss A/c Read more

✅ D. The Trial Balance has no statutory importance from the point of view of law

Option A : The Trial Balance is prepared after preparing the Profit and Loss Account Option B : The Trial Balance shows only balances of Assets and Liabilities Option C : The Trial Balance shows only nominal account balances Option D : The Trial Balance has no statutory importance from the point of view of law Correct Answer : The… Read more

✅ A. Written down to zero or its scrap value

Option A : Written down to zero or its scrap value Option B : Shown in the Balance Sheet at its replacement cost Option C : Shown in the Balance Sheet at cost, but classified as a non-current asset Option D : Carried in the accounting records at cost until it is sold Correct Answer : Written down to zero… Read more

✅ D. Cash as per cash book with bank balance as per bank pass book

Option A : Trial balance Option B : Cash book Option C : Bank A/c Option D : Cash as per cash book with bank balance as per bank pass book Correct Answer : Cash as per cash book with bank balance as per bank pass book Read more

✅ E. All of these

Option A : Stock at the end of the financial year Option B : Stock at the beginning of the financial year Option C : Drawings Option D : Prepaid Rent & Interest received but not yet earned Correct Answer : All of these Read more