Accounting - Study Mode
[#621] The discount column of a triple column cash book records . . . . . . . .
Correct Answer
(B) cash discount
[#622] Specific donations received by a non-trading concern are usually . . . . . . . .
Correct Answer
(B) capital receipt
[#623] The following information pertains to a cultural club: Stock of tinned provisions (as on 1 st April 1994) : Rs. 25,000 Purchased during the year : Rs. 1,50,000 Stock of tinned provisions (as on 31 st March 1995) : Rs. 50,000 Sale of tinned provisions during the year : Rs. 1,50,000 The amounts to be debited and credited respectively to the Income and Expenditure account would be:
Correct Answer
(C) Rs. 1,25,000 and Rs. 1,50,000
[#624] Stock is valued at . . . . . . . .
Correct Answer
(C) cost of market price whichever is lower
[#625] A scheduled bank is required to maintain with RBI . . . . . . . . at a prescribed percentage of their total time and demand deposit.
Correct Answer
(B) CRR