Accounting - Study Mode
[#2211] Which of the following error will not affect trial balance?
Correct Answer
(A) Rs. 5,000 goods purchased on cash, by mistake expense account debited in place of purchase account
[#2212] Which of the following activities should be shown separately in the cash flow statement prepared as per Accounting Standard-3? 1. Cash flow from borrowing activities 2. Cash flow from operating activities 3. Cash flow from financing activities 4. Cash flow from investing activities 5. Cash flow from miscellaneous activitie
Correct Answer
(D) 1, 2 and 5
[#2213] Liquid Assets are equal to:
Correct Answer
(D) Current Assets less Inventories and Prepaid Expenses
[#2214] Cost volume profit analysis does not present a statement of the impact of net profit on-
Correct Answer
(D) Change in fixed cost
[#2215] A is regularly drawing Rs. 500 on 16 th of every month. if he is to pay interest on Rs. 6000 at a given rate, then the interest for the total period will be
Correct Answer
(B) 6 months