Accounting - Study Mode
[#2906] Donations received by a charitable institution for some specific purpose are taken to:
Correct Answer
(B) Liabilities side of Balance Sheet
[#2907] If current ratio is 2.5, quick ratio 1.5 and net working capital Rs. 15,000. The value of inventory will be:
Correct Answer
(A) Rs. 10,000
[#2908] Which of the following item/items will be included in income and expenditure account? I. Accrued expenses II. Credit purchases III. Prepaid expenses IV. Opening cash balance Select the correct answer from the options given below and mark your answer sheet accordingly.
Correct Answer
(B) I and II
[#2909] The following are the figures relating to a trader: Opening stock - Rs. 10,000 Closing stock - Rs. 11,000 Purchase - Rs. 70,000 The goods are sold at a profit of 30% on cost. The amount of sales will be:
Correct Answer
(C) Rs. 89,700
[#2910] Subscription in arrears (given in adjustment) is shown on the . . . . . . . .
Correct Answer
(A) credit side of income and expenditure account and assets side of balance sheet