Payments received in advance from a customer for a contract can be__________?

✅ A. Inventory system

Option A : Inventory system Option B : Survey system Option C : Annuity system Option D : Insurance Correct Answer : Inventory system Read more

✅ A. 18,387

Option A : 18,387 Option B : 18,560 Option C : 18,750 Option D : 19,000 Correct Answer : 18,387 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

✅ A. Current Assets

Option A : Current Assets Option B : Fixed Assets Option C : Current Assets& current liabilities Option D : All of the above Correct Answer : Current Assets Read more

✅ B. Royalty

Option A : Dividend Option B : Royalty Option C : Purchase consideration Option D : Installment Correct Answer : Royalty Read more

✅ A. Outstanding checks

Option A : Outstanding checks Option B : Unpresented checks Option C : Deposit in transit Option D : Omission of Bank charges Correct Answer : Outstanding checks Read more

✅ C. Budget

Option A : Direct cost Option B : Cost Sheet Option C : Budget Option D : Marginal Costing. Correct Answer : Budget Read more

✅ C. Cash payments and cash receipts

Option A : Cash payments Option B : Cash receipts Option C : Cash payments and cash receipts Option D : Neither cash payments nor cash receipts Correct Answer : Cash payments and cash receipts Read more