Accounting - Study Mode
[#831] According to the going concern concept, a business entity is assumed to have:
Correct Answer
(A) a long life
[#832] A sales of Rs. 2000 wrongly entered in the purchase book:
Correct Answer
(D) none of these
[#833] Amount sacrificed by shareholders are credited to . . . . . . . .
Correct Answer
(C) capital reduction
[#834] Cost of goods purchased for resale is an example of:
Correct Answer
(B) Revenue Expenditure
[#835] In case of retirement of a partner, the partner's loan account would be shown
Correct Answer
(D) in the total amount due to him