Miscellaneous In Commerce - Study Mode

[#301] Accounting concepts are based on:
Correct Answer

(B) Certain facts and figures

[#302] One of the following statements is wrong. Find out that Wrong statement.
Correct Answer

(A) In a contract of guarantee the liability of the surety is primary

[#303] Managerial accounting information is generally prepared for . . . . . . . .
Correct Answer

(C) Managers

[#304] Cost of goods sold = opening stock + net purchases + expenses on purchases - sales. Which part of formula is wrong?
Correct Answer

(D) sales

[#305] A company's telephone bill consisting of a Rs. 200 monthly base amount, plus long distance charges, would be classified as a:
Correct Answer

(D) Semi-variable cost
(H) Semi variable cost