Miscellaneous In Commerce - Study Mode

[#211] If the total assets of the company amount to Rs. 1,50,000 and owner's equity is Rs. 70,000, the amount of liabilities will be:
Correct Answer

(B) Rs. 80,000

[#212] Cash discount allowed to a debtor should be credited to:
Correct Answer

(B) Customer's account

[#213] Financial statements are:
Correct Answer

(C) Recorded facts

[#214] A manufacturing process requires small amounts of glue. The glue used in the process is classified as:
Correct Answer

(B) An indirect material

[#215] Which of the following is prominent international organization that promotes trade liberalization and brought major reduction in trade barriers?
Correct Answer

(B) WTO