Depreciation decreases____________?
Depreciation decreases____________?
A. Liabilities
B. Cash
C. Bank
D. Capital
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Which of the following error is an error of principle
Which of the following error is an error of principle
A. 5,000 received from Sham credited to Ram A/c
B. 5,000 incurred on installation of new plant debited to travelling expenses A/c
C. 500 paid for wages debited to salary A/c
D. 500 being purchase of raw material debited to purchase A/c ` 50Building and furniture are called ____________?
Building and furniture are called ____________?
A. Current asset
B. Fictitious asset
C. Tangible asset
D. Fixed assetsClosing stock is generally valued at______________?
Closing stock is generally valued at______________?
A. Cost Price
B. Market Price
C. Cost price or Market price whichever is higher
D. Cost price or Market price whichever is lower[Hints: D. Para 5, of AS-2 states that inventories should be valued at the lower of cost and net realizable value.]
Which of the following form of business organization is least regulated?
Which of the following form of business organization is least regulated?
A. Sole-proprietorship
B. General Partnership
C. Limited Partnership
D. Corporation___________ are checks that are issued by the business but not yet presented to bank
___________ are checks that are issued by the business but not yet presented to bankA. Uncollected checks
B. Uncredited checks
C. Outstanding checks
D. Bounced checksWhich of the following is not a method of charging depreciation?
Which of the following is not a method of charging depreciation?
A. Straight line Method
B. Written down value Method
C. Discounted present value Method
D. Sum of digits Method