In which of the following methods, the cost of the asset is spread over in equal proportion during its useful economic life?

✅ D. Debit Profit and Loss A/c and credit Provision for Bad Debts A/c.

Option A : Debit Provision for Bad Debts A/c and credit Debtors A/c Option B : Debit Debtors A/c and credit Provision for Bad Debts A/c Option C : Debit Provision for Bad Debts A/c and credit Profit & Loss A/c Option D : Debit Profit and Loss A/c and credit Provision for Bad Debts A/c. Correct Answer : Debit… Read more

✅ D. Cash

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

✅ D. Conversion cost

Option A : Prime cost Option B : Explicit cost Option C : Job order cost Option D : Conversion cost Correct Answer : Conversion cost Read more

✅ C. Cash column

Option A : Bank column Option B : Discount column Option C : Cash column Option D : None Correct Answer : Cash column Read more

✅ B. All types of cash receipts and payments

Option A : Only cash sales Option B : All types of cash receipts and payments Option C : Only revenue receipts Option D : Only capital receipts Correct Answer : All types of cash receipts and payments Read more

✅ D. Capital receipts

Option A : Liability Option B : Assets Option C : Revenue receipts Option D : Capital receipts Correct Answer : Capital receipts Read more

✅

Option A : Errors which affect one account can be errors of posting Option B : Errors of omission arise when any transaction is left to be recorded Option C : Errors of carry forward from one year to another year affect both Personal and Real A/c Option D : Errors of commission arise when any transaction is recorded in… Read more

✅ C. Outstanding checks

Option A : Uncollected checks Option B : Uncredited checks Option C : Outstanding checks Option D : Bounced checks Correct Answer : Outstanding checks Read more