Unpresented checks also referred as____________?

✅ A. Debited to P&L A/c

Option A : Debited to P&L A/c Option B : Shown as liability in Balance Sheet Option C : Reduced from related asset in Balance Sheet Option D : Both and Correct Answer : Debited to P&L A/c Read more

✅ C. Assets

Option A : Liability Option B : Gain Option C : Assets Option D : Loss Correct Answer : Assets Read more

✅ C. Damage paid on account of breach of a contract to supply certain goods

Option A : 1000 paid for the execution of a new plant Option B : Loss of 10,000 incurred in increasing the sitting accommodation of a hotel Option C : Damage paid on account of breach of a contract to supply certain goods Option D : Repair to machinery purchased, second hand. Correct Answer : Damage paid on account of… Read more

✅ D. selling Expenses & administrative expenses

Option A : selling Expense Option B : Direct labor Option C : factory overhead Option D : selling Expenses & administrative expenses Correct Answer : selling Expenses & administrative expenses Read more

✅ D. Cash Book is a subsidiary book as well as a ledger

Option A : A sale of an asset is recorded in the Sales Book Option B : Total of Return Outward Book is debited to Return Outward Account Option C : The balance of Petty Cash Book is a liability Option D : Cash Book is a subsidiary book as well as a ledger Correct Answer : Cash Book is… Read more

✅ A. Adjusted

Option A : Adjusted Option B : Unadjusted Option C : Understated Option D : Overstated Correct Answer : Adjusted Read more

✅ C. Accounts receivable

Option A : Cash Option B : Bank balance Option C : Accounts receivable Option D : Cash reserve Correct Answer : Accounts receivable Read more

✅ A. Passage of time, asset usage, and obsolescence

Option A : Passage of time, asset usage, and obsolescence Option B : Tax regulations and SEBI guidelines Option C : Tax regulations and asset usage Option D : SEBI guidelines and Asset usage Correct Answer : Passage of time, asset usage, and obsolescence Read more