Which of the following is an item of capital expenditure?

✅ C. Cash payments and cash receipts

Option A : Cash payments Option B : Cash receipts Option C : Cash payments and cash receipts Option D : Neither cash payments nor cash receipts Correct Answer : Cash payments and cash receipts Read more

✅ D. All the three

Option A : Errors of casting Option B : Errors of carry forward Option C : Errors of posting Option D : All the three Correct Answer : All the three 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

✅ C. Obsolescence

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

✅ A. Balance Sheet discloses financial position of the business

Option A : Balance Sheet discloses financial position of the business Option B : A person who owes to the business is called Debtor Option C : Decrease in the value of the asset could decrease the value of a liability Option D : Assets are to be shown in the Balance Sheet at the realizable value Read More Details… Read more

✅ A. Business entity concept

Option A : Business entity concept Option B : Money measurement concept Option C : Going concern concept Option D : Matching concept Read More Details about this Mcq Correct Answer : Business entity concept Read more

✅ D. To bring out the reasons for the difference between the Balance as per Cash Book and the Balance as per Bank Statement

Option A : To rectify the mistakes in the Cash Book Option B : To arrive at the Bank Balance Option C : To arrive at the Cash Balance Option D : To bring out the reasons for the difference between the Balance as per Cash Book and the Balance as per Bank Statement Correct Answer : To bring out… Read more

✅ D. Gross Profit will decrease by 3,320

Option A : Net Profit will decrease by 3,140 Option B : Gross Profit will increase by 3,320 Option C : Gross Profit will decrease by 3,500 Option D : Gross Profit will decrease by 3,320 Correct Answer : Gross Profit will decrease by 3,320 Read more