Which of the following is true?

✅ B. For mutual financial accommodation

Option A : Genuine trade reasons Option B : For mutual financial accommodation Option C : To help augment money supply Option D : All the three Correct Answer : For mutual financial accommodation Read more

✅ B. Accountant of business

Option A : Bank Option B : Accountant of business Option C : Manager of a company Option D : Banks cashier Correct Answer : Accountant of business Read more

✅ D. Depreciable value

Option A : Scrap value Option B : Residual value Option C : Market value Option D : Depreciable value Correct Answer : Depreciable value Read more

✅ C. Results in the acquisition of a permanent asset

Option A : Benefits the current accounting period Option B : Will benefit the next accounting period Option C : Results in the acquisition of a permanent asset Option D : Results in the acquisition of a current asset Correct Answer : Results in the acquisition of a permanent asset Read more

✅ C. 3

Option A : 4 Option B : 2 Option C : 3 Option D : 5 Correct Answer : 3 Read more

✅ A. Sundry Debtors

Option A : Sundry Debtors Option B : Stock Option C : Prepaid insurance Option D : All of Correct Answer : All of and above Read more

✅ A. Written down to zero or its scrap value

Option A : Written down to zero or its scrap value Option B : Shown in the Balance Sheet at its replacement cost Option C : Shown in the Balance Sheet at cost, but classified as a non-current asset Option D : Carried in the accounting records at cost until it is sold Correct Answer : Written down to zero… Read more

✅ B. Unit cost

Option A : Variable cost Option B : Unit cost Option C : Total cost Option D : Fixed cost Correct Answer : Unit cost Read more