The balance of Revaluation Reserve pertaining to an asset that has been disposed off or retired can be transferred to?

✅ A. Current Asset

Option A : Current Asset Option B : Current Liability Option C : Fixed Asset Option D : Income Read More Details about this Mcq Correct Answer : Current Asset 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

✅ C. Budget

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

✅ B. Payments

Option A : Receipts Option B : Payments Option C : Incomes Option D : Expenditures Correct Answer : Payments Read more

✅ C. It is payable to the bearer

Option A : It must be in writing Option B : It contains an unconditional promise to pay Option C : It is payable to the bearer Option D : It must be signed by the maker Read More Details about this Mcq Correct Answer : It is payable to the bearer Read more

✅ A. sale is effected

Option A : sale is effected Option B : cash is received Option C : production is completed Option D : debts are collected Correct Answer : sale is effected Read more

✅ D. Financial position as on a particular date

Option A : Results of operations for a particular period Option B : Financial position during a particular period Option C : Profit earning capacity for a particular period Option D : Financial position as on a particular date Correct Answer : Financial position as on a particular date Read more

✅ C. Obsolescence

Option A : Routine repair and maintenance Option B : Misuse Option C : Obsolescence Option D : Wear and tear Correct Answer : Obsolescence Read more