Accounting - Study Mode
[#1411] Match List-I with List-II and select the correct answer using the options given below the lists: List-I List-II a. Preliminary expense 1. Capital expenditure b. Travelling expenses of the salesman 2. Revenue expenditure c. Profit on sale of a part of the business building 3. Capital gain d. Nazrana paid on the purchase of land for business 4. Deferred revenue
Correct Answer
(A) a-4, b-2, c-3, d-1
[#1412] A person named in the negotiable instrument to whom or to whose order the money in the instrument is directed to be paid is called as the:
Correct Answer
(B) Payee
[#1413] Del Credere commission is allowed to the consignee to bear:
Correct Answer
(C) loss on account of bad debts
[#1414] Subscriptions amounting to Rs. 7,500 appear on the credit side of income and expenditure account after adjusting subscriptions out standing Rs. 600 and subscriptions received in advance Rs. 450. The amount of subscriptions to be shown in the receipts and payments account for the same year will be:
Correct Answer
(B) Rs. 7,350
[#1415] Advanced tax paid by a banking company is shown as . . . . . . . . in the Balance Sheet.
Correct Answer
(C) other assets