Accounting - Study Mode
[#1371] Match List-I (Items) with List-II (Headings) and select the correct answer using the options given below the lists: List-I (Items) List-II (Headings) a. Provision for income tax 1. Miscellaneous expenses not written off b. Share premium 2. Current liabilities c. Unclaimed dividend dividend 3. Reserves and surplus d. Discount issue of shares 4. Profit and loss account
Correct Answer
(A) a-4, b-3, c-2, d-1
[#1372] Bills Receivable book is to keep record of . . . . . . . .
Correct Answer
(A) bills received from customers
[#1373] The capital in a business on 1 st January and 31 st January is Rs. 17,000 and Rs. 17,200 respectively. Investment by owner and withdrawal by owner during January amount to Rs. 1,000 and Rs. 700 respectively. What is the net income for January?
Correct Answer
(A) Rs. 100 (Loss)
[#1374] Market price or actual cost, whichever is less, is the generally accepted accounting principle for valuation of:
Correct Answer
(A) Stock-in-trade
[#1375] Sales on account is recorded in:
Correct Answer
(C) Sales book