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
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