Credit balance as per Cash Book mean____________?
Credit balance as per Cash Book mean____________?
A. Surplus cash
B. Bank overdraft
C. Terms deposits with bank
D. None of these
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Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?
Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?
A. Income Statement
B. Balance Sheet
C. Cash Flow Statement
D. Retained Earning StatementThe portion of the acquisition cost of the asset yet to be allocated is known as___________?
The portion of the acquisition cost of the asset yet to be allocated is known as___________?
A. Written down value
B. Accumulated value
C. Salvage value
D. Residual ValueDepreciation is a process of____________?
Depreciation is a process of____________?
A. Valuation
B. Valuation and allocation
C. Allocation
D. AppropriationAS-6 on depreciation accounting defines ‗depreciation‘ as the measure of wearing out, consumption or other loss of a value of a depreciable asset arising from use, effluxion of time or obsolescence through technology and market changes. Depreciation is allocated so as to charge a fair proportion of the depreciable amount in each accounting period during the expected useful life of the asset. Depreciation includes amortization of assets whose useful life is predetermined.
Favorable balance of cash book implies that
Favorable balance of cash book implies thatA. Credit balance of cash book
B. Debit balance of cash book
C. Bank overdraft
D. Adjusted balance of cash book___________ helps business to classify transactions according to their nature?
___________ helps business to classify transactions according to their nature?A. General journal
B. Real accounts
C. Ledger accounts
D. Cash accountsShort term Assets expected to be converted into cash within 1 year or less than?
Short term Assets expected to be converted into cash within 1 year or less than?
A. Current Assets
B. Fixed Assets
C. Current Assets& current liabilities
D. All of the above