Which of the following statements is/are true ?

✅ C. Installation charges paid in conjunction with the purchase of Office Equipment

Option A : Research and development costs during the year Option B : Interest on borrowed fund utilized for acquisition of Office Furniture Option C : Installation charges paid in conjunction with the purchase of Office Equipment Option D : Monthly rent of a machinery used in the business Correct Answer : Installation charges paid in conjunction with the purchase… Read more

✅ C. Building A/c

Option A : Salary A/c Option B : Bank A/c Option C : Building A/c Option D : Goodwill A/c Correct Answer : Building A/c Read more

✅ A. Petty cash

Option A : Petty cash Option B : Cash book Option C : Cash receipt Option D : Discount Correct Answer : Petty cash Read more

✅ B. Prepaid expenses

Option A : Bank Option B : Prepaid expenses Option C : Accounts receivable Option D : Creditor Correct Answer : Prepaid expenses Read more

✅ D. Closing stock

Option A : Sales Option B : Purchases Option C : Inward returns Option D : Closing stock Correct Answer : Closing stock Read more

✅ C. 10,000 units

Option A : 8,000 units Option B : 11,000 units Option C : 10,000 units Option D : 9,000 units Correct Answer : 10,000 units Read more

✅ C. Assets

Option A : Liability Option B : Gain Option C : Assets Option D : Loss Correct Answer : Assets Read more

✅ B. P&L A/C is debited with 1,200

Option A : P&L A/C is debited with 1,400 Option B : P&L A/C is debited with 1,200 Option C : 200 is shown as current asset Option D : Both Correct Answer : Both and above Read more