Departments K Y Opening 2,500 800 Purchases 120,000 100,000 Sales 180,000 200,000 Salary 8,000 30,000 Closing stock 3,000 1,500 Rate…
A. helps in the preparation of the balance sheet B. prevents fraud and theft of item of the business C.…
A. #184, 000 B. #196,500 C. #212,000 D. #168,500 Correct Answer: Option D - #168,500 Explanation The net working capital…
Balance as per cashbook 2, 970 Bank Charges 220 Unpresented cheques 3, 950 Uncredited cheques 4, 178 Direct debit by…
A. bank account and credit joint venture account B. expenses account and credit bank account C. joint venture account and…
A. public issue B. bonus C. right issue D. dividends Correct Answer: Option D - dividends Explanation Dividend is known…
A. treasury receipt B. receipt voucher C. payment voucher D. treasury card Correct Answer: Option B - receipt voucher Explanation…
A. All records relevant to the organization B. Records of assets of the organization C. A collection of data items…
A. current asset B. current liability C. fixed asset D. long term liability Correct Answer: Option B - current liability…
A. Assets = Liabilities + Equity B. Net assets = Liabilities + Equity C. Assets + Liabilities = Equity D.…