Accounting - Study Mode
[#1231] X company purchased a machine paying cash Rs. 50,000, sold inventory for cash Rs. 10,000 (at cost), and collected bills receivables of Rs. 5,000 during a month. The net effect on fund flow would be:
Correct Answer
(C) Rs. 50,000 application of funds
[#1232] Consider the following statements: I. Workmen's compensation and third party insurance are examples of guarantee insurance II. Re-insurance is more common under fire and marine insurance Which of the statements given above is/are correct?
Correct Answer
(C) Both I and II
[#1233] Cash purchase in the account of:
Correct Answer
(D) cash account
[#1234] Match List-I with List-II and select the correct answer using the options given below the lists: List-I List-II a. Amortisation 1. Diminition in the life of the assets due to excessive use b. Depreciation 2. Exhaustion of natural resource c. Depletion 3. Expiration of tangible assets d. Obsolescence 4. Expiration of intangible assets 5. Economic deterioration due to improved inventions
Correct Answer
(D) a-4, b-3, c-2, d-5
[#1235] Any written document in support of a business transaction is called a . . . . . . . .
Correct Answer
(A) Voucher