In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange duly accepted by the drawee is?

✅ B. P&L A/C is debited with 1,200

Option A : P&L A/C is debited with 1,400 Option B : P&L A/C is debited with 1,200 Option C : 200 is shown as current asset Option D : Both Correct Answer : Both and above Read more

✅ B. Payments

Option A : Receipts Option B : Payments Option C : Incomes Option D : Expenditures Correct Answer : Payments 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. 60,000

Option A : 50,000 Option B : 55,000 Option C : 60,000 Option D : 65,000 Correct Answer : 60,000 Read more

✅ A. Credit side of Cash Book

Option A : Credit side of Cash Book Option B : Debit side of Cash Book Option C : Debit side of Trial Balance Option D : Credit side of Balance Sheet Correct Answer : Credit side of Cash Book Read more

✅ C. Discounted present value Method

Option A : Straight line Method Option B : Written down value Method Option C : Discounted present value Method Option D : Sum of digits Method Correct Answer : Discounted present value Method 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

✅ B. At the time of closing the accounts

Option A : At the time of opening new books of account Option B : At the time of closing the accounts Option C : During the course of accounting period any time Option D : After certification of accounts Correct Answer : At the time of closing the accounts Read more