Accounting - Study Mode
[#316] Which is the accounting concept that requires the practice of crediting closing stock to the trading account?
Correct Answer
(D) Matching
[#317] Which of the following is not an advance given by a bank?
Correct Answer
(C) deposit
[#318] Account current is a journal is . . . . . . . .
Correct Answer
(B) False
[#319] If payment is made on the average due date it results in . . . . . . . .
Correct Answer
(C) no loss of interest to either of them
[#320] Which one of the following arrangements represents the order of liquidity?
Correct Answer
(B) Cash, Bills Receivable, Debtors, Stock