The cost of obsolete inventory acquired several years ago, to be considered in a keep vs. disposal decision is an example of :

✅ E. All of these

Option A : Income received in advance Option B : Stock Option C : Debtors Option D : Pre-paid expenses and Accrued income Correct Answer : All of these Read more

✅ B. Vehicle

Option A : Stock Option B : Vehicle Option C : Fixed deposit in bank Option D : Both and Correct Answer : Both and above Read more

✅ B. Marshalling Balance Sheet

Option A : Dressing Balance Sheet Option B : Marshalling Balance Sheet Option C : Formatting Balance Sheet Option D : Make up of Balance Sheet Correct Answer : Marshalling Balance Sheet Read more

✅ E. All of these

Option A : Stock at the end of the financial year Option B : Stock at the beginning of the financial year Option C : Drawings Option D : Prepaid Rent & Interest received but not yet earned Correct Answer : All of these Read more

✅ B. Land

Option A : Building Option B : Land Option C : Plant and Machinery Option D : Office equipment Correct Answer : Land 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

✅ A. Balance Sheet

Option A : Balance Sheet Option B : Profit and Loss A/c Option C : Trading A/c Option D : None of these Correct Answer : Balance Sheet Read more

✅ C. Cost+ Transport+ Installation expenses

Option A : Cost price of asset Option B : Market price Option C : Cost+ Transport+ Installation expenses Option D : Cost or market values whichever is less Correct Answer : Cost+ Transport+ Installation expenses Read more