Cash book with cash and discount column is mostly referred as________?

✅ B. Marshalling Balance Sheet

Option A : Dressing Balance Sheet Option B : Marshalling Balance Sheet Option C : Formatting Balance Sheet Option D : Make up of Balance Sheet Correct Answer : Marshalling Balance Sheet Read more

✅

Option A : Previous years profit is overstated and current years profit is also overstate Option B : Previous years profit is understated and current years profit is overstate Option C : Option D : Previous years profit is overstated and current years profit is understate Correct Answer : Previous years profit is overstated and current years profit is understated. Read more

✅ B. Prepaid expenses

Option A : Bank Option B : Prepaid expenses Option C : Accounts receivable Option D : Creditor Correct Answer : Prepaid expenses Read more

✅ C. Intangible Asset

Option A : Nominal A/c Option B : Tangible Asset Option C : Intangible Asset Option D : Fictitious Asset Correct Answer : Intangible Asset Read more

✅ A. The rate at which the asset is written off reduces year after year

Option A : The rate at which the asset is written off reduces year after year Option B : The amount of depreciation provided reduces from year to year Option C : The rate of depreciation as well as the amount of depreciation reduce year after year Option D : The value of the asset gets reduced to zero over… Read more

✅ A. Credited to P&L A/c

Option A : Credited to P&L A/c Option B : Debited to P&L A/c Option C : Reduced from debtors in Balance Sheet Option D : Added to debtors in Balance Sheet Read More Details about this Mcq Correct Answer : Credited to P&L A/c Read more

✅ C. The retained earnings was overstated during 2011-2012 and retained earnings will be understated during 2012-2013

Option A : The cost of goods sold was overstated during 2011-2012 and income will be understated during 2012-2013 Option B : The income was overstated during 2011-12 and closing inventory will be overstated during 2012-2013 Option C : The retained earnings was overstated during 2011-2012 and retained earnings will be understated during 2012-2013 Option D : The cost of… Read more

✅ B. Vehicle

Option A : Stock Option B : Vehicle Option C : Fixed deposit in bank Option D : Both and Correct Answer : Both and above Read more