Accounting - Study Mode
[#2446] Receipts and payments account is a . . . . . . . .
Correct Answer
(B) Nominal account
[#2447] Which of the following is/are capitalised along with the purchase price a fixed asset? I. Import duty II. Delivery and handling cost III. Cash discount IV. Cost of installation Select the correct answer using the options given below:
Correct Answer
(C) I, II and IV
[#2448] Accumulated depreciation account is shown in the final accounts:
Correct Answer
(A) on the liability side of the balance sheet
[#2449] Buyback of shares should not exceed . . . . . . . . of paid up capital and free reserve of the company.
Correct Answer
(D) 25%
[#2450] An example of revenue expenditure is . . . . . . . .
Correct Answer
(B) Salaries