Discount allowed is___________?
Discount allowed is___________?
A. Expense of business
B. Income of business
C. Loss of business
D. Abnormal loss of business
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Which of the following is the internal user of financial statements?
Which of the following is the internal user of financial statements?
A. Creditor of the business
B. Government agency
C. holder of the business
D. Manager of the businessPurchase of office equipment for cash will be recorded on which of the following sides of a cash book?
Purchase of office equipment for cash will be recorded on which of the following sides of a cash book?A. Receipts
B. Payments
C. Incomes
D. ExpendituresGoods return to supplier are known as:__________?
Goods return to supplier are known as:__________?A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales returnWhich of the following shall not be deducted from net profit while calculating managerial remuneration?
Which of the following shall not be deducted from net profit while calculating managerial remuneration?A. Loss on sale of undertaking
B. Debts considered bad and written off
C. Liability arising from a breach of contract
D. Director‘s remunerationDirector‘s remuneration shall not be deducted from net profit while calculating
managerial remunerationWhich of the following is the closing balance of a ledger account?
Which of the following is the closing balance of a ledger account?A. Balance c/d
B. Balance b/d
C. Balance e/d
D. Balance f/cThe Basic accounting equation is___________?
The Basic accounting equation is___________?
A. Asset=Expense +Income
B. Assets=Cash+Capital
C. Assets=Capital+Liabilities
D. Assets=Expenses+Capital