Accounting - Study Mode
[#2426] Closing stock is valued at:
Correct Answer
(C) Cost price or market price whichever is lower
[#2427] . . . . . . . . is a device of reducing the risk undertaken by an insurance company.
Correct Answer
(A) Re-insurance
[#2428] Which of the following accounts will invariably have a debit balance?
Correct Answer
(B) Accounts receivable account
[#2429] The basic rule of book-keeping, debit the receiver and credit the giver is applicable to:
Correct Answer
(C) personal account
[#2430] According to money measurement concept, which one of the following will be recorded in the books of accounts . . . . . . . .
Correct Answer
(D) cost of machinery