Depreciation is a process of____________?

✅ B. Identifying the transaction

Option A : Recording the transaction Option B : Identifying the transaction Option C : Posting the transaction Option D : Preparing the source documents Correct Answer : Identifying the transaction Read more

✅ A. Debts included in Sundry Debtors which are doubtful in nature

Option A : Debts included in Sundry Debtors which are doubtful in nature Option B : Uncalled liability on partly paid shares Option C : Claims against the company not acknowledged as debts Option D : Arrears of fixed cumulative dividend Read More Details about this Mcq Correct Answer : Debts included in Sundry Debtors which are doubtful in nature Read more

✅ A. Debited to P&L A/c

Option A : Debited to P&L A/c Option B : Shown as liability in Balance Sheet Option C : Reduced from related asset in Balance Sheet Option D : Both and Correct Answer : Debited to P&L 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. Petty cash

Option A : Petty cash Option B : Cash book Option C : Cash receipt Option D : Discount Correct Answer : Petty cash Read more

✅ A. 0.65

Option A : 0.65 Option B : 0.35 Option C : 1.5 Option D : 5.29 Correct Answer : 0.65 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

✅ A. Interest Rate

Option A : Interest Rate Option B : Required rate of return Option C : Nominal interest rate Option D : All of the above Correct Answer : Interest Rate Read more