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Discounts received are mcq

WebExpired portion of direct cost is treated as: Handout page 276, chap 14 a. Expense b. Cost C. Liability D. Income. Discount received from a creditor is Credited under main head: Handout page 150 a. Expenses b.Income C. Assets D. Liabilities. Accumulated depreciation of furniture is a/an_____. Webfinal accounts mcqs is a set of multiple choice questions. It contains trading account, profit and loss account and balalnce sheet questions. ... The assets received for goods and services and the amounts used to provide the goods and services . Correct! ... Sales discounts (b) Sales discounts and sales returns and allowances (c) Sales returns ...

MCQs for Accountancy Chapter 3 Recording of Transactions – I

WebDec 1, 2024 · Recording of Transactions 2 Class 11 MCQs Questions with Answers. Question 1. The first book of original entry is-. (a) Journal. (b) Ledger. (c) Trial Balance. (d)None of these. Answer. Question 2. WebDiscounts received are: S Accountancy A Deducted by us when we pay our accounts B Deducted when we receive cash C Given by us when we sell goods on credit D None of … can you microwave pecans https://kirklandbiosciences.com

Discount - Aptitude Questions and Answers

WebMCQs on Cashbook. The primary purpose of a cashbook is to record cash transactions occurring in a business organisation. It acts both as a journal and a ledger for cash inflows and outflows. A cashbook follows the dual entry accounting system, and it is also an alternative to a cash account. We have compiled a list of multiple-choice questions ... WebApr 9, 2024 · The discount rate formula can either be extracted by subtracting the selling price of the product from its marked price or by multiplying the discount rate offered and … WebMay 2, 2015 · MULTIPLE CHOICE QUESTIONS WITH ANSWERS (ACCOUNTING-I) PUNJAB COLLEGE OF COMMERCE An easy approach to pass 1. Accounting is called of business: a) Heart b) Eye c) Ear d) Tongue 2. When a drawer discounts a bill, he debits: a) Bank account b) Cash account c) Drawee account d) B/R account 3. can you microwave pillsbury biscuits

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Category:MCQ Questions for Class 11 Accountancy Chapter 8 Bills of

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Discounts received are mcq

MGT101 Quiz 3 MCQ FEB 2024 - Modules 11-14 - Studocu

WebDiscount received is an indirect income of the business. it is shown in the credit side of profit and loss account. When discount is received, debt amount is reduced and increase … WebNov 16, 2024 · F.Y.B.com Foundation Course sem 2 mcq pdf Foundation Course MCQ May 13, 2024 T.Y.B.com Cost Accounting Question with answers MCQ PDF , T.Y.B. Com Cost Accounting MCQ

Discounts received are mcq

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WebThe periodical total of discount column on receipts side of a Triple Column Cash Book is recorded to the. Consider the following data pertaining to a firm: Credit balance as per bank column of cash book `13,000; Bank interest on overdraft appeared only in the pass book `2,600; Cheques deposited but not collected by the bank ` 5,000. WebExample. BMX LTD as part of its purchases promotion campaign has offered to sell their bikes at a 10% discount on their listed price of $100. If customers pay within 10 days from the date of purchase, they get a further $5 cash discount. Bike LTD purchases a bike from BMX LTD and pays within 10 days of the date of purchase.

WebSolved Answer of MCQ Discount received is an: - (a) Asset - (b) Liability - (c) Expense - (d) Revenue - Accounting Concepts, Principles and Procedures Multiple Choice … WebAccounting Mcqs Discount received is a/an: Discount received is a/an: A. Asset B. Expense C. Liability D. Revenue Mcq Added by: admin Accounting Mcqs Accounting …

WebMay 27, 2024 · 9. Ninety-percent of Vogel Bird Seed's total sales of $600,000 is on credit. If its year-end receivables turnover is 5, the average collection period (based on a 365-day year) and the year-end receivables are, respectively: A. 365 days and $108,000. B. 73 days and $120,000. C. 73 days and $108,000. Webmcqsclouds.com Discount received is a/an: A. Asset B. Expense C. Liability D. Revenue Answer & Explanation A systematic way to maintain the books of accounts is …

Web(a) Discount received (b) Cash received (c) Rent Expenses (d) Purchases. Answer: a. 10. Among these, which item is used as the base for preparing trial balance? (a) Cash …

Webregister randomly determines whether the customer will receive a discount on the bill. The program was written to generate a discount with a probability of 0.2, that is, giving 20 percent of the bills a discount in the long run. However, the owner is concerned that the program has a mistake that results in the program not can you microwave pillsbury cookiesWeb(1) Cash received (2) Irrecoverable debts (3) Discounts allowed (4) Sales A 1, 2 and 3 only B 2 and 4 only C 1 and 4 only D 1, 2, 3 and 4 6 The following is a summary of the petty cash transactions for a week: Income $ Expenditure $ Opening balance 500 Travelling expenses 150 Sale of stamps 10 Subsistence expenses 250 Sale of paper 50 brijay automotive group inc phone numberWebClass 11 Accountancy students should refer to the following multiple-choice questions with answers for Bank Reconciliation Statement in standard 11. These MCQ questions with answers for Grade 11 Accountancy will come in exams and help you to score good marks ... Discount received (c) Bank interest (d) Check not presented. Answer : B. can you microwave pasta to cook itWebApr 10, 2024 · Discount received acts as a gain for the business and is shown on the credit side of a profit and loss account. Trade discount is not shown in the main financial … can you microwave plantainsWebQuestion Anil purchased, 1,000 Add Gell Roller Pens @ Rs. 50 each less 20% Trade Discount and 3% Cash Discount if payment is made within 30 days. Anil paid Rs. 10,000 within 30 days and balance amount after 30 days period. Purchases Account will be debited and Discount Received Account will be credited respectively with (a) Rs. 40,000, Nil. can you microwave pita breadbrij and companyWebDiscount received is recorded on which of the following side of a cash book? A. Receipts B. Payments C. Income D. Expenditure Answer & Solution Discuss in Board Save for … can you microwave pillsbury cinnamon rolls