Accounting

Which of the following is not a source of revenue for local government?

A. mining royalties B. radio and TV licenses C. tenement/property rates D. business permit fee Correct Answer: Option A A.…

6 years ago

“Financial statements do not a disclose all information users need to know about a firm” This is the concept of?

A. consistency B. money measurement C. dual aspect D. materiality Correct Answer: Option B B. money measurement

6 years ago

What is the prime cost?

Use the following information to answer the given question D Purchase of raw materials 236,500 Returns of raw materials  4,750…

6 years ago

What is the value of raw materials used?

Use the following information to answer the given question D Purchase of raw materials 236,500 Returns of raw materials  4,750…

6 years ago

A document which acknowledges that a company owes a person a stated sum of money with an agreement to pay a fixed rate of interest periodically is?

A. share certificate B. allotment certificate C. preference certificate D. debenture certificate Correct Answer: Option D D. debenture certificate

6 years ago

Rent is apportioned each department on the basis of?

A. area or space occupied B. equality C. turnover D. purchases Correct Answer: Option A A. area or space occupied

6 years ago

Which of the following is not part of the cost of production?

A. wages of operators B. factory power C. advertising D. cost of raw materials Correct Answer: Option C C. advertising

6 years ago

The reduction in value of an intangible asset is?

A. depletion B. depression C. amortization D. appreciation Correct Answer: Option C C. amortization

6 years ago

Subscription prepared by members is recorded in the balance sheet of a club as a?

A. current liability B. current asset C. fixed asset D. long term liability Correct Answer: Option A A. current liability

6 years ago

In the absence of an agreement, partners share profits?

A. based on the activeness of a partner B. based on capital contribution C. on patronage basis D. on equal…

6 years ago