Favorable balance of bank statement implies that

✅ B. Balance Sheet

Option A : Income Statement Option B : Balance Sheet Option C : Cash Flow Statement Option D : Retained Earning Statement Correct Answer : Balance Sheet Read more

✅ A. Acceptors Account is debited in the books of drawer

Option A : Acceptors Account is debited in the books of drawer Option B : Bills Receivable Account is credited in the books of drawer Option C : Bank Account is debited in the books of drawer Option D : Bills Payable Account is debited in the books of drawer Read More Details about this Mcq Correct Answer : Acceptors… Read more

✅ A. $5000 will be credited

Option A : $5000 will be credited Option B : $5000 will be debited Option C : $10,000 will be credited Option D : $10,000 will be debited Correct Answer : $5000 will be credited 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. 2,40,000

Option A : 2,40,000 Option B : 2,10,000 Option C : 2,00,000 Option D : 1,80,000 Correct Answer : 2,40,000 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

✅ C. Balance Sheet only

Option A : Trading A/c and Balance Sheet Option B : Profit and Loss A/c Option C : Balance Sheet only Option D : Trading A/c only Correct Answer : Balance Sheet only Read more

✅ A. Outstanding Salary A/c

Option A : Outstanding Salary A/c Option B : Rent A/c Option C : SBI A/c Option D : Bad debts A/c Correct Answer : Outstanding Salary A/c Read more