The portion of the acquisition cost of the asset yet to be allocated is known as___________?

✅ B. For mutual financial accommodation

Option A : Genuine trade reasons Option B : For mutual financial accommodation Option C : To help augment money supply Option D : All the three Correct Answer : For mutual financial accommodation Read more

✅ D. Capital Reserve A/c

Option A : General Reserve A/c Option B : Profit & Loss A/c Option C : Asset A/c Option D : Capital Reserve A/c Correct Answer : Capital Reserve A/c Read more

✅ B. Undercasting or overcastting of a subsidiary book is an example or error of commission

Option A : Entering wrong amount in the subsidiary book affects the agreement of the Trial Balance Option B : Undercasting or overcastting of a subsidiary book is an example or error of commission Option C : Errors of principle do not affect the agreement of Trial Balance Option D : Both Correct Answer : Both and above 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

✅ A. Drawings

Option A : Drawings Option B : Bad debts Option C : Accrued expenses Option D : Reserve for discount on Sundry Creditors Read More Details about this Mcq Correct Answer : Drawings Read more

✅ B. Bank Overdraft

Option A : Surplus cash Option B : Bank Overdraft Option C : Terms deposits with bank Option D : None of these Correct Answer : Bank Overdraft Read more

✅ C. estimation of selling price

Option A : estimation of profit. Option B : estimation of cost. Option C : estimation of selling price Option D : estimation of units. Correct Answer : estimation of selling price 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