Accounting - Study Mode
[#916] Determination of cost from actual expenses incurred is termed as
Correct Answer
(C) Historical costing
[#917] Trial balance is a proof that:
Correct Answer
(A) every transaction is recorded twice
[#918] Any excess amount paid to preference share holders is debited to . . . . . . . . account.
Correct Answer
(A) realisation
[#919] The account current method in which the days are calculated from the date of transaction to the commencement date is known as . . . . . . . .
Correct Answer
(B) Epoch method
[#920] Receipts and payment account shows . . . . . . . .
Correct Answer
(B) cash receipts and payments