Difference in Bank Balance as per Pass Book and Cash Book may arise on account of_____________?

✅ A. Profit & Loss Account is prepared for a certain period and hence it is an interim statement

Option A : Profit & Loss Account is prepared for a certain period and hence it is an interim statement Option B : Profit & Loss Account does not disclose the effect of non-financial items Option C : Net Profits are ascertained on the basis of current costs Option D : Net Profits as disclosed by P&L Account is not… Read more

✅ B. $2000 will be credited in cash book

Option A : $2000 will be debited in cash book Option B : $2000 will be credited in cash book Option C : $4000 will be debited in cash book Option D : $4000 will be credited in the cash book Correct Answer : $2000 will be credited in cash book 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

✅

Option A : Masoods account Option B : Cash account Option C : Cash account and Gagans account Option D : None of these Correct Answer : Masood™s account Read more

✅ B. Return inwards

Option A : Return outwords Option B : Return inwards Option C : cost of goods sold Option D : carriage on sales Correct Answer : Return inwards Read more

✅ A. Drawings

Option A : Drawings Option B : Bad debts Option C : Accrued expenses Option D : Reserve for discount on Sundry Creditors Read More Details about this Mcq Correct Answer : Drawings Read more

✅ A. Sole-proprietorship

Option A : Sole-proprietorship Option B : General Partnership Option C : Limited Partnership Option D : Corporation Correct Answer : Sole-proprietorship 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