Which of the following is a current liability?

✅ C. Petty cash column

Option A : Cash column Option B : Bank column Option C : Petty cash column Option D : Discount column Correct Answer : Petty cash column Read more

✅ C. Cost of stand by equipment

Option A : Repair of plant and machinery Option B : Salary paid to workers Option C : Cost of stand by equipment Option D : Annual whitewash of the office building Correct Answer : Cost of stand by equipment Read more

✅ B. Differential costs

Option A : Relevant costs Option B : Differential costs Option C : Target costs Option D : Sunk costs Correct Answer : Differential costs Read more

✅ A. Adjusted

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

✅ C. Trading A/c

Option A : Profit and Loss A/c Option B : Capitalized with work in progress Option C : Trading A/c Option D : Shown in Balance Sheet Correct Answer : Trading A/c Read more

✅ B. Inventories

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

✅ D. Trading and Profit and Loss A/c

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

✅ C. Cost to acquire less accumulated amortization

Option A : Replacement cost Option B : Current cost Option C : Cost to acquire less accumulated amortization Option D : Cost less expired portion Read More Details about this Mcq Correct Answer : Cost less expired portion Read more