Net loss occurs when______________?
Net loss occurs when______________?
A. Expenses are greater than Income
B. Expenses are less than Income
C. Expenses=Income
D. Liabilities are greater than income
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Which of these types of expenditure would not be treated as a Capital Expenditure?
Which of these types of expenditure would not be treated as a Capital Expenditure?
A. Acquisition of an Asset
B. Extension of an Asset
C. Improvement of the existing Asset
D. Maintenance of the AssetThe total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as________?
The total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as________?A. Direct cost
B. Variable cost
C. Commercial cost
D. Conversion costPetty cash fund is supposed to be replenished?
Petty cash fund is supposed to be replenished?A. Every day
B. Every half year
C. Every year
D. At the end of every accounting periodA cash book with cash, bank and discount column is commonly referred as________?
A cash book with cash, bank and discount column is commonly referred as________?A. Cash book
B. Two columns cash book
C. Three columns cash book
D. Petty cash bookComputers taken on hire by a business for a period of twelve months should be classified as:___________?
Computers taken on hire by a business for a period of twelve months should be classified as:___________?A. Current assets
B. Intangible assets
C. Deferred revenue expenditure
D. Not an asset
Computers taken on hire by a business for a period of twelve months is not an asset because it is not owned by the business to be classified as asset. Thus, the correct answer is D.. Since it is not an asset it cannot be classified as any asset and other alternatives are not the correct
answers.Keeping the log of financial information in books of original entries is called__________?
Keeg the log of financial information in books of original entries is called__________?
A. Recording
B. summarizing
C. Groug
D. Processing