Petty cash balance is a/an___________?

✅ C. 3

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

✅ C. All such transactions for which no special journal has been kept by the business

Option A : Credit purchase of fixed assets Option B : Return of goods Option C : All such transactions for which no special journal has been kept by the business Option D : None of these Correct Answer : All such transactions for which no special journal has been kept by the business 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

✅ C. Remitting or receiving the amount

Option A : Discounting of the bill with the bank Option B : Payment of the bill on due date Option C : Remitting or receiving the amount Option D : Sending the bill to bank for collection Read More Details about this Mcq Correct Answer : Remitting or receiving the amount Read more

✅ A. Current assets and current liabilities

Option A : Current assets and current liabilities Option B : Profit and loss A/C and Balance sheet Option C : Current assets and non-current liabilities Option D : Current liabilities and non-current liabilities Correct Answer : Current assets and current liabilities Read more

✅ D. All the three

Option A : It bring out any errors committed in preparation of Cash book / Bank Pass Book Option B : Highlights under delay in clearance of cheques deposited but not credited Option C : Help know actual bank balance Option D : All the three Correct Answer : All the three 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. The total of the sales journal has not been posted to the Sales Account

Option A : Sale of ` 100 was recorded in the Purchases Journal Option B : Wages paid to Mohan have been debited to his account Option C : The total of the sales journal has not been posted to the Sales Account Option D : Repairs to buildings have been debited to buildings account Correct Answer : The total… Read more