The process of paying off debt over time in regular installment of interest & principal sufficient to repay the loan in fully by its maturity date.

✅ C. Obsolescence

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

✅ B. 1881

Option A : 1981 Option B : 1881 Option C : 1871 Option D : 2001 Correct Answer : 1881 Read more

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Option A : Current assets Option B : Intangible assets Option C : Deferred revenue expenditure Option D : Not an asset Read More Details about this Mcq Correct Answer : Not an asset Read more

✅ B. Inventories

Option A : Goodwill Option B : Inventories Option C : Investments Option D : Both Correct Answer : Inventories Read more

✅ D. Debit of 600 and 200 to insurance company and Profit and Loss Account respectively and credit of 800 to Trading Account

Option A : Debit of 800 to Trading Account and credit of 600 and 200 to insurance company and Profit and Loss Account respectively Option B : Deduct the 800 from closing stock in the Trading Account Option C : Credit insurance company for 600 Option D : Debit of 600 and 200 to insurance company and Profit and Loss… Read more

✅ B. The person responsible for dishonour

Option A : The drawer of the bill Option B : The person responsible for dishonour Option C : The holder of the bill Option D : The endorser of the bill Read More Details about this Mcq Correct Answer : The person responsible for dishonour Read more

✅ B. Land

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

✅ B. Added to bank balance

Option A : Subtracted from bank balance Option B : Added to bank balance Option C : Added to Cash book balance Option D : Subtracted from cash book balance Correct Answer : Added to bank balance Read more