Accounting - Study Mode
[#2891] If a receipt of Rs. 200 from Rajesh out debtor has not been recorded in the books, the profit would show:
Correct Answer
(C) neither an increase nor a decrease
[#2892] Under the annuity method the amount of total depreciation is determined by:
Correct Answer
(C) adding the cost of the assets and interest there on
[#2893] A company may resort to "window dressing" by manipulating the data such as: I. inventory valuation II. omission of liability for goods purchased III. treating a short-term liability long-term debt IV. recording in advance cash receipts applicable to next accounting period
Correct Answer
(C) I, II and III
[#2894] Which of the following errors in an error of principle?
Correct Answer
(C) Repairs to machinery have been debited to machinery account
[#2895] A business is considered to be having and indefinite life according to:
Correct Answer
(C) going concern concept