Cash received for services rendered will______________?
Cash received for services rendered will______________?
A. Increase cash and liability
B. Increase equity and liability
C. Increase fixed assets and cash
D. Increase cash and equity
Similar Posts
Sales and purchase journal don’t record__________?
Sales and purchase journal don’t record__________?
A. Credit sales
B. Credit purchases
C. Credit sales and purchases
D. Cash sales and purchasesAverage Accounting Return is a measure of accounting profit relative to:
Average Accounting Return is a measure of accounting profit relative to:
A. Book value
B. Intrinsic value
C. Cost
D. Market valueWhich of the following will affect the agreement of a trial balance?
Which of the following will affect the agreement of a trial balance?
A. Complete omission of a transaction
B. Partial omission of a transaction
C. Error of principle
D. Compensating errors________ is the gross inflow of economic benefits?
________ is the gross inflow of economic benefits?
A. Assets
B. Liabilities
C. Income
D. Expenses___________ 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 accountsDuring the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?
During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?
A. Rs. 33,000
B. Rs. 25,000
C. Rs. 17,000
D. Rs. 8,000Ref: Amount of cash received = total revenue increased – account receivable increased
= 25,000 – 8000 = 17,000.