A. Receipts
B. Payments
C. Incomes
D. Expenditures
Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book___________?
A. Errors in cash book
B. Errors in pass book
C. Cheques deposited and cleared
D. Cheques issued but not presented for payment
The main objective of providing depreciation is to?
A. Calculate the true profit
B. Show the true financial position in the Balance Sheet
C. Provide funds for replacement of fixed assets
D. Both A. and B. above
The main objective of providing depreciation is to find out the true Net Profit or Loss for
an accounting period and to present a true and fair view of the state of affairs of the business.
Providing funds for replacement is only an ancillary objective and not the main objective.]
Capital expenses are shown in___________?
A. Balance Sheet
B. Profit and Loss A/c
C. Trading A/c
D. None of these
A. Nominal accounts
B. Balance sheet accounts
C. Real accounts
D. None of them
A. Net Profit = Gross Profit – Administration and Other expenses
B. Net Profit = Gross Profit + Administration expenses and Other expenses
C. Opening Stock + Purchases – Closing Stock = Cost of Sales
D. Both B. and C. above
Net Profit= Gross Profit- Administration and other expenses. Hence option B. is false.
Opening stock+ Purchases-Closing stock= Cost of material consumed not cost of sales.
Option (c ) is false.
A. all indirect costs.
B. all direct costs.
C. indirect and direct costs.
D. all specific costs