Accounting - Study Mode
[#2031] Profit as per accounts from incomplete records may constructed as equivalent of:
Correct Answer
(B) Excess of capital at the end over the capital at the beginning
[#2032] Depreciation is provided on:
Correct Answer
(D) Fixed Assets
[#2033] Sales to Benson Rs. 500 posted to his account as Rs. 50 would affect . . . . . . . .
Correct Answer
(B) Bensons account
[#2034] The assets of a business can be classified as . . . . . . . .
Correct Answer
(C) fixed and current assets
[#2035] A gross profit is transferred to the . . . . . . . . side of the profit and loss account.
Correct Answer
(B) Credit