Closing stock appearing in the Trial Balance is shown in:

✅ 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

✅ D. Allocation of the cost of an asset to the periods in which services are received from the asset

Option A : Regular reduction of asset value to correspond to changes in market value as the asset ages Option B : A process of correlating the market value of an asset with its gradual decline in physical efficiency Option C : Allocation of cost in a manner that will ensure that Plant and Equipment items are not carried on… Read more

✅ A. 5,80,000

Option A : 5,80,000 Option B : 5,50,000 Option C : 5,00,000 Option D : 5,75,000 Read More Details about this Mcq Correct Answer : 5,80,000 Read more

✅ A. Assets accounts

Option A : Assets accounts Option B : liability accounts Option C : Cash accounts Option D : Revenue accounts Correct Answer : Assets accounts 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

✅ B. T

Option A : I Option B : T Option C : H Option D : None Correct Answer : T Read more

✅ B. All types of cash receipts and payments

Option A : Only cash sales Option B : All types of cash receipts and payments Option C : Only revenue receipts Option D : Only capital receipts Correct Answer : All types of cash receipts and payments Read more

✅ C. Sales tax paid in connection with the purchase of office equipment

Option A : Interest on loans and debentures Option B : Annual fire insurance premiums on Plant and Equipment Option C : Sales tax paid in connection with the purchase of office equipment Option D : Small expenditures on long- lived assets, such as ` 20 for a paper weight. Correct Answer : Sales tax paid in connection with the… Read more