Closing stock is generally valued at______________?

✅ D. Cash

Option A : Bank Option B : Payments Option C : Discount Option D : Cash Correct Answer : Cash Read more

✅ 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

✅ D. Cash Book is a subsidiary book as well as a ledger

Option A : A sale of an asset is recorded in the Sales Book Option B : Total of Return Outward Book is debited to Return Outward Account Option C : The balance of Petty Cash Book is a liability Option D : Cash Book is a subsidiary book as well as a ledger Correct Answer : Cash Book is… Read more

✅ D. $3000 will be subtracted from cash book balance

Option A : $1000 will be added to cash book balance Option B : $2000 will be deducted from cash book balance Option C : $3000 will be added to cash book balance Option D : $3000 will be subtracted from cash book balance Correct Answer : $3000 will be subtracted from cash book balance Read more

✅ C. 24

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

✅ C. 3

Option A : 4 Option B : 2 Option C : 3 Option D : 5 Correct Answer : 3 Read more

✅ B. Understatement of Assets

Option A : Overstatement of Assets Option B : Understatement of Assets Option C : Overstatement of Liabilities Option D : Understatement of Liabilities Correct Answer : Understatement of Assets 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