Which of the following is a revenue expenses?
Which of the following is a revenue expenses?
A. Raw material consumed
B. Plant purchased
C. Long term loan raised from bank
D. Capital
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Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation?
Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation?
A. Added, Reduced
B. Added, Added
C. Deducted, Added
D. Deducted, DeductedPayments received in advance from a customer for a contract can be__________?
Payments received in advance from a customer for a contract can be__________?
A. Shown as a deduction from contract work-in-progress on asset side
B. Shown as a liability
C. Credited to P&L A/c
D. Either A. or B. aboveAn average cost is also known as________?
An average cost is also known as________?A. Variable cost
B. Unit cost
C. Total cost
D. Fixed costBad debts recovered is:
Bad debts recovered is:A. Credited to P&L A/c
B. Debited to P&L A/c
C. Reduced from debtors in Balance Sheet
D. Added to debtors in Balance SheetBad debts earlier written–off and later recovered is a profit to the firm and hence they
are transferred to Profit & loss Account.Accommodation 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 threeThe amount invested by the proprietor to start the business is called:
The amount invested by the proprietor to start the business is called:
A. Capital
B. Business
C. Drawings
D. All of them