Accounting - Study Mode
[#336] Goods withdrawn by the proprietor from business for his personal use will be credited to:
Correct Answer
(B) Purchases account
[#337] According to accounting standard-14 purchase consideration is payable to which one of the following?
Correct Answer
(D) Shareholder
[#338] Operating performance is best measured by the rate of return on:
Correct Answer
(D) Net capital employed
[#339] The 'Accounting Convention of Matching' means:
Correct Answer
(D) Expenses of a period to be matched against the revenue of the same period
[#340] In the calculation of net profit of Rs. 15,00,000 for the period, Rs. 20,000 profit on sale of an asset and Rs. 10,000 depreciation have been taken into consideration. In this case funds from operations will be
Correct Answer
(C) Rs. 14,90,000