Cash received from debtors would be deemed as___________of funds.
Cash received from debtors would be deemed as___________of funds.
A. No flow
B. Sources
C. Uses
D. Gain
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Any donation received for a specific purpose is a_________?
Any donation received for a specific purpose is a_________?
A. Liability
B. Assets
C. Revenue receipts
D. Capital receiptsCash discount is allowed on _______ repayment of debt.
Cash discount is allowed on _______ repayment of debt.A. Lump sum
B. Prompt
C. Actual
D. None of themAmount paid to Masood posted to the credit side of his account would affect___________?
Amount paid to Masood posted to the credit side of his account would affect___________?
A. Masood’s account
B. Cash account
C. Cash account and Gagan’s account
D. None of theseThe Basic accounting equation is___________?
The Basic accounting equation is___________?
A. Asset=Expense +Income
B. Assets=Cash+Capital
C. Assets=Capital+Liabilities
D. Assets=Expenses+CapitalBuildings account is debited with an amount towards repairs. This is an example of?
Buildings account is debited with an amount towards repairs. This is an example of?
A. Error of commission
B. Error of principle
C. Error of omission
D. Compensating errorB. Buildings account debited with an amount towards repairs is an error of principle. Error of principle is a wrong classification of expenditure or receipt.
Which one of the following is a capital expenditure?
Which one of the following is a capital expenditure?
A. Compensation paid to Directors on termination of their services
B. Expenditure incurred in connection with the renewal of a Trade Mark.
C. Gratuities paid to Directors on termination of their services.
D. Royalty paid in installments for the purchase of rights to manufacture and sell patient medicines.