Accounting - Study Mode
[#161] Trial balance is prepared to ascertain-
Correct Answer
(D) Arithmetical accuracy of financial transaction
[#162] Under which method of depreciation, the value of machinery never comes to zero:
Correct Answer
(C) Diminishing balance method
[#163] Debenture holders are
Correct Answer
(A) Creditors
[#164] The balance of a partner's current accounts is
Correct Answer
(C) Debit or Credit balance
[#165] The general manager is entitled to a commission of 10% on net profit after charging the commission of works manager. The works manager is entitled to a commission of 5% on the net profit after charging the commission of general manager. The profit before charging any commission is Rs. 7,000. The commission of the works manager, to the nearest rupee, will be
Correct Answer
(B) Rs. 304