Which of the following equations is correct?

✅ C. distribution cost.

Option A : prime cost. Option B : factory cost. Option C : distribution cost. Option D : production cost Correct Answer : distribution cost. Read more

✅ B. Asset

Option A : Liability Option B : Asset Option C : Expenses Option D : Income Correct Answer : Asset Read more

✅ A. Credit side of Cash Book

Option A : Credit side of Cash Book Option B : Debit side of Cash Book Option C : Debit side of Trial Balance Option D : Credit side of Balance Sheet Correct Answer : Credit side of Cash Book Read more

✅ E. above

Option A : Shown as a deduction from contract work-in-progress on asset side Option B : Shown as a liability Option C : Credited to P&L A/c Option D : Either or Correct Answer : Either or above Read more

✅ A. Profit and Loss A/c

Option A : Profit and Loss A/c Option B : Trading A/c Option C : Deducted from the concerned assets A/c Option D : Shown on the liability side Correct Answer : Profit and Loss A/c Read more

✅ A. Profit & Loss Account is prepared for a certain period and hence it is an interim statement

Option A : Profit & Loss Account is prepared for a certain period and hence it is an interim statement Option B : Profit & Loss Account does not disclose the effect of non-financial items Option C : Net Profits are ascertained on the basis of current costs Option D : Net Profits as disclosed by P&L Account is not… Read more

✅ C. Commercial cost

Option A : Direct cost Option B : Variable cost Option C : Commercial cost Option D : Conversion cost Correct Answer : Commercial cost 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