Net sales equals, sales minus:

✅ A. 4/4/2013

Option A : 4/4/2013 Option B : 3/4/2013 Option C : 1/4/2013 Option D : 31-3-2013 Correct Answer : 4/4/2013 Read more

✅ B. Error of principle

Option A : Error of commission Option B : Error of principle Option C : Error of omission Option D : Compensating error Correct Answer : Error of principle Read more

✅ B. Uncredited checks

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

✅ C. Damage paid on account of breach of a contract to supply certain goods

Option A : 1000 paid for the execution of a new plant Option B : Loss of 10,000 incurred in increasing the sitting accommodation of a hotel Option C : Damage paid on account of breach of a contract to supply certain goods Option D : Repair to machinery purchased, second hand. Correct Answer : Damage paid on account of… Read more

✅ D. All the three

Option A : Errors of complete omission Option B : Errors of principle Option C : Errors of posting to wrong account Option D : All the three Correct Answer : All the three Read more

✅

Option A : 17,000 (overstated Option B : 12,000 (understated Option C : 7,000 (understated Option D : 7,000 (overstate Correct Answer : Read more

✅ C. 3

Option A : 4 Option B : 2 Option C : 3 Option D : 5 Correct Answer : 3 Read more

✅ D. Administration and general expenses

Option A : Interest payable on loans or deferred credits taken for the acquisition or construction of fixed assets before they are ready for use Option B : Stand by equipment and servicing equipment Option C : Expenditure incurred on test runs and experimental production Option D : Administration and general expenses Correct Answer : Administration and general expenses Read more