An income statement in which each item expressed as percentage of Sale?
An income statement in which each item expressed as percentage of Sale?
A. Balance sheet
B. income statement
C. common size income statement
D. All of the Above
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Cash purchases is recorded in which of the following specialized journals?
Cash purchases is recorded in which of the following specialized journals?
A. Purchase journal
B. Sales journal
C. Purchases return journal
D. Cash payments journalIn accounting an Economic event is referred to as:
In accounting an Economic event is referred to as:
A. Cash
B. Bank statement
C. Transaction
D. Exchange of moneyCurrent assets – Current liabilities=?
Current assets – Current liabilities=?
A. Capital
B. Absorbed capital
C. Net assets
D. Net working capitalProperty, Plant and Equipment are conventionally presented in the Balance Sheet at _________?
Property, Plant and Equipment are conventionally presented in the Balance Sheet at _________?A. Replacement cost – Accumulated Depreciation
B. Historical cost – Salvage Value
C. Historical cost – Depreciation portion thereof
D. Original cost adjusted for general price-level changesAccommodation bills are generally for?
Accommodation bills are generally for?A. Genuine trade reasons
B. For mutual financial accommodation
C. To help augment money supply
D. All the threeBuilding and furniture are called ____________?
Building and furniture are called ____________?
A. Current asset
B. Fictitious asset
C. Tangible asset
D. Fixed assets