Accounting - Study Mode
[#591] The record of cash transactions by non-trading concerns is shown in
Correct Answer
(A) Receipt and Payment A/c
[#592] Which of the following is a capital expenditure:
Correct Answer
(A) Repairs and painting of an old building
[#593] Assertion (A): Increasing the value of closing inventory increases profit. Reason (R): Increasing the value of closing inventory reduces the cost of goods sold In the context of the above two statements, which of the following is correct?
Correct Answer
(A) Both (A) and (R) are correct
[#594] Arrange the following liabilities in the order of company balance sheet. i. Bank Overdraft ii. Bank Loan iii. Share Capital iv. Provision for Taxation
Correct Answer
(D) iii, ii, iv, i
[#595] Which of the following will be debited in Income and expenditure account of a school?
Correct Answer
(C) Maps purchased for Geography