Which of the following are/is a current asset?

✅ B. Depreciation is a charge against profit

Option A : Depreciation cannot be provided in case of loss in a financial year Option B : Depreciation is a charge against profit Option C : Depreciation is provided in the books only when there is profit Option D : Depreciation is an appropriation of profit Correct Answer : Depreciation is a charge against profit Read more

✅ C. The total of the sales journal has not been posted to the Sales Account

Option A : Sale of ` 100 was recorded in the Purchases Journal Option B : Wages paid to Mohan have been debited to his account Option C : The total of the sales journal has not been posted to the Sales Account Option D : Repairs to buildings have been debited to buildings account Correct Answer : The total… Read more

✅ B. Putting the new asset in working condition

Option A : Expenses for day to day running of the business Option B : Putting the new asset in working condition Option C : Depreciation Option D : Purchase of raw material Correct Answer : Putting the new asset in working condition Read more

✅ A. Acceptors Account is debited in the books of drawer

Option A : Acceptors Account is debited in the books of drawer Option B : Bills Receivable Account is credited in the books of drawer Option C : Bank Account is debited in the books of drawer Option D : Bills Payable Account is debited in the books of drawer Read More Details about this Mcq Correct Answer : Acceptors… Read more

✅ C. 7150

Option A : 6441 Option B : 5431 Option C : 7150 Option D : 5876 Correct Answer : 7150 Read more

✅ A. Postage stamps

Option A : Postage stamps Option B : B/R Option C : Cheque Deposited with Bank Option D : B/R endorsed Correct Answer : Postage stamps Read more

✅ C. Balance Sheet only

Option A : Trading A/c and Balance Sheet Option B : Profit and Loss A/c Option C : Balance Sheet only Option D : Trading A/c only Correct Answer : Balance Sheet only Read more

✅ A. Raw material consumed

Option A : Raw material consumed Option B : Plant purchased Option C : Long term loan raised from bank Option D : Share Capital Correct Answer : Raw material consumed Read more