A. Stock
B. Vehicle
C. Fixed deposit in bank
D. Both A. and C. above
_________is the cost of converting raw material into finished products?
A. Prime cost
B. Explicit cost
C. Job order cost
D. Conversion cost
A. Petty cash
B. Cash book
C. Cash receipt
D. Discount
Which of the following statements are / is true? – Events after Balance Sheet are?
A. All the significant events after the Balance Sheet date
B. The events after Balance Sheet date but before submitting it to the Registrar of Companies
C. The events after Balance Sheet date but before its approval by the board
D. All changes after Balance Sheet date before its approval
Events occurring after the Balance Sheet date are those significant events, both favorable and unfavorable, that occur between the Balance Sheet date and the date on which the financial statements are approved by the Board of Directors in the case of a company, and by the corresponding approving authority in the case of any other entity.
A. Nominal accounts
B. Balance sheet accounts
C. Real accounts
D. None of them
Cash purchases is recorded in which of the following specialized journals?
A. Purchase journal
B. Sales journal
C. Purchases return journal
D. Cash payments journal
Which one of the following is a capital expenditure?
A. Compensation paid to Directors on termination of their services
B. Expenditure incurred in connection with the renewal of a Trade Mark.
C. Gratuities paid to Directors on termination of their services.
D. Royalty paid in installments for the purchase of rights to manufacture and sell patient medicines.