Accounting - Study Mode
[#1741] Which of the following accounts is increased by credit entries?
Correct Answer
(A) Bank Overdraft
[#1742] Under . . . . . . . . policy, the sum assured becomes payable on the attainment of a specific age or on death whichever is earlier.
Correct Answer
(B) endowment policy
[#1743] Match List-I with List-II and select the correct answer: List-I List-II a. Credit purchase of an asset 1. Purchase Return b. Cash sales of an asset 2. Sales Return c. Return inward 3. Cash Book d. Return outward 4. Journal Proper
Correct Answer
(C) a-4, b-3, c-2, d-1
[#1744] Which of the following is not an example of contingent liability?
Correct Answer
(B) Interim dividend
[#1745] The current ratio of a firm is 2 : 1. Which one of the following suggestion would improve the ratio?
Correct Answer
(A) To pay a current liability